India’s global trade prospects for the March
quarter looks strong and bright, suggests the recently launched DHL Global
Trade Barometer (DHL GBT). According to DHL, the Indian air and ocean freight
remains strong owing to the high demand seen for commodities and equipment,
driving the growth. The country’s trade in machinery and high-tech goods
continues to underpin its growth, while increased imports of industrial raw
materials point to an extended period of trade development for the nation.
Lawson, managing director, DHL Global Forwarding India, said, “The new taxation
system GST has changed the perception towards India in the global market. The
transparency issue which was shadowing Indian trade has been addressed through
joined hands with the IT major Accenture to bring out the DHL Global Trade
Barometer. Using the data collected from seven countries - China, South Korea,
Germany, India, Japan, UK and US, a quarter-wise outlook has been provided.
Together, these countries account for 75 percent of world trade, making their
aggregated data an effective bellwether for near-term predictions on global
economy has brighter prospects than any of the world’s seven largest
contributors to global trade. The first ever DHL Global Trade Barometer is an
early indicator of global trade developments calculated using Artificial
Intelligence and Big Data.
predictions/the indicators from DHL GTB are expected to help the players
optimise the business process, identify new business opportunities, and improve
capacity according to the projected demand.
added that the domestic market also continues to create interest post GST
because of the freedom of cargo movement from state to state.
continued, “India’s economy has built up terrific momentum in recent times:
since 2008, its GDP has risen every single year to $2.44 trillion last year,
more than double the levels of a decade ago. As the country continues to invest
heavily in infrastructure, we expect it to continue its upward trajectory for
the foreseeable future.”
DHL in India is all ready for e-waybill. He pointed out that, “We are for
bringing in more transparency. And e-waybill, I think will take it to the next
level. We work closely with the regulators and other officials in the country.”
India, he said, will invest in technology to facilitate an easy trade
environment. The company is expected to do an investment to the tune of $250
million over the next few years.