After contracting for 6 months, exports up 5.27% in September: Goyal

After contracting for six months in a row, the country’s exports grew by 5.27 per cent to USD 27.4 billion in September, Commerce and Industry Minister said on Thursday.

He said this is an indicator of the “rapid recovery” of the Indian economy as it surpasses pre-COVID-19 levels across parameters.

“Make in India, Make for the World: Indian merchandise exports grow 5.27 per cent in September 20 as compared to last year,” he said in a tweet.

In September 2019, the exports stood at USD 26.02 billion.

Contracting for the sixth straight month, India’s exports had slipped 12.66 per cent year-on-year to USD 22.7 billion in August.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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TVS Supply Chain set to launch Rs 1,100-crore warehousing venture

TVS Supply Chain Solutions, earlier known as TVS Logistics Services, is looking to launch a new venture, said a source in the know, with an investment of $150 million (Rs 1,100 crore).

The UK government’s investment arm CDC is pumping in $50 million (Rs 369 crore), said sources. The venture is expected to be launched this month.

“The venture will focus on building modern warehouses on the outskirts of large industrial clusters such as Chennai, Pune and so on,” sources said, adding that it would also focus on tapping growing the footprint of e-commerce ventures in the country.

Though the exact area the venture is planning to build is not known, experts said with an investment of Rs 1,100 crore, a developer can build around nine million square feet, given the cost of construction comes to around Rs 1,500 per sq ft and land cost comes around Rs 2 crore per acre. TVS did not offer any comment. When contacted, a CDC spokesperson said: “We are unable to comment on deal speculation”.

TVS Supply Chain Solutions is one of the largest with over 300

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Major overhaul of R&D tax credit reporting is critical to UK’s economic recovery

HMRC has this week published data showing the number of companies claiming Research and Development (R&D) tax credits and the cost to the Exchequer of providing that support.

But in a world focused on the now, this publication has underlined the woeful inadequacy of the figures, according to Jenny Tragner, director at R&D tax credit consultancy ForrestBrown and member of HMRC’s R&D Consultative Committee.

“We’re in the middle of the biggest public health and economic crisis of our generation,” Tragner comments. “R&D will quite literally be the solution to the pandemic, everything from helping businesses to reopen safely to the vaccine itself. And we know from harsh lessons learned during the previous recession that protecting private sector investment in R&D will also be critical to economic recovery. This annual survey should be giving us valuable insight into the state of business R&D in the UK, but it simply fails to do so.”

On reading the 25-page report and accompanying data tables, Tragner said, “While these figures are interesting for those in the R&D tax industry, they actually reveal very little real insight. Despite these figures covering the 2018-19 tax year, the most recent complete data comes from 2017-18. If we

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