CARGOCONNECT-APRIL2026 - Flipbook - Page 17
IMF raises India FY26 GDP
growth forecast to 6.3%
India remains one of the fastest-growing major
economies, with the IMF recently revising its FY26
GDP growth forecast upward by 20 basis points
– from 6.1% to 6.3%. The economy is anticipated
to expand by 6.5% in 2027, solidifying its position
as a global growth engine.
Chakan MIDC anchors
Maharashtra’s automotive and
industrial ecosystem
Allcargo has significantly strengthened its
presence by expanding and recategorising
its transshipment centres from 21 to 71
and extending coverage across 100% of
India’s available PIN codes.
Middle East tensions push global
VLCC rates to US$87,000/day
Geopolitical tensions and supply disruptions in the
Middle East have pushed up rates to US$87,000/day
for Very Large Crude Carriers (VLCCs). For countries
heavily reliant on energy imports, this means higher
FOREX outflows, worsening trade balances, and
increased in昀氀ation pressures.
Today, 57% of developingcountry exports go to other
developing economies. The
surge has been driven largely
by Asia’s regional value
chains, particularly in East and
Southeast Asia, where high and
medium-tech manufacturing
dominates
Developed by the Maharashtra Industrial Development
Corporation, Chakan MIDC is one of Asia’s largest
industrial hubs and a cornerstone of Maharashtra’s
industrial ecosystem, serving automotive, pharmaceutical, and heavy engineering sectors.
Indian Railways is undergoing a major
transformation, with the aim of raising
its freight share to around 45% by 2030.
It also targets doubling freight volumes
to 3 billion tonnes by the end of the
decade.
Wind-propelled vessels
advance sustainable
maritime innovation
Concrete examples of maritime innovation,
including new vessels designed around
wind propulsion systems, enable service to
secondary ports where port operations are
quicker and o昀昀er competitive end-to-end
transit times by reducing last mile transport.
CARGOCONNECT APRIL 2026 | 17
