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Invitation for Bids (IFB) – Ministry of Defence

I wish to inform you that, the Chairman, Standing High Level Procurement Committee (SHLPC), Ministry of has invited sealed bids from eligible and qualified bidders for the Capital Overhaul of MI-171E Helicopters and Purchase of Spares for the Recovery of Bell 212 Helicopter of the Sri Lanka Air Force.

Please find attached herewith a copy of the procurement notice of the above.

It would be appreciated, if you could kindly make necessary arrangements to disseminate the same among your membership.

Thank you.

With warm regards,

Shirani Ariyarathne

Actg. Consul General, Minister (Commercial)

Consulate General of Sri Lanka

34, Homi Mody Street, Fort, Mumbai 400001

Tel: (+ 91 22 )22045861/22048303, Fax: (+ 91 22) 22876132

E -mail: slcg.mumbai@mfa.gov.lk

Union Minister of Commerce & Industry Shri Piyush Goyal emphasises mutual funds industry’s role in India’s growth at AMFI Summit 2025

The mutual funds industry has played a pivotal role in India’s growth story by encouraging financial literacy and taking innovative financial ideas to the industry and the investors. This was stated by Union Minister of Commerce & Industry Shri Piyush Goyal during his address as a Chief Guest at the Association of Mutual Funds in India (AMFI) Mutual Fund Summit 2025 today in Mumbai.

The Minister further complimented the domestic investors for filling the gap created by the foreign institutional investors (FIIs) post-Covid. “Collective investment methods like SIPs along with domestic investors supported the market. They helped in spreading financial awareness and financial products to every part of the country, he said.

Highlighting the importance of safeguarding the importance of small investors and other key stakeholders, Shri Goyal urged the industry leaders to reflect on ways to minimise volatility in the stock market. Large fund inflows, compulsions of the market to deploy capital, fear among investors on missing out on attractive stocks brought crises among investors during rightsizing. There has been a lot of misinformation flow about the unending ability of the market to go on a one-way street, he noted, and described the unpredictability of the stock market as a wakeup call for the industry and its small investors.

AMFI should also become conscious of its duties by isolating misguided investors from the rest. Companies with mettle have maintained reasonable prices at the stock market during recent turbulence, he noted. He said that duties and responsibilities of the industry towards the market are larger than the profitable returns investors enjoy in the short term. He also added that government spending and private capex are showing signs of comeback.

Elaborating on the responsibilities of the mutual funds industry towards its investors, the Minister urged the participants to be more diligent in cautioning investors from taking risks. He hoped that initiatives as such will spur India’s growth story for the next 22 years. Shri Goyal urged the industry to support and handhold investors, look at financial inclusion as a collective responsibility and take up financial education as its duty.

Shri Goyal asserted that assets under management (AUM) in the mutual funds industry at nearly Rs 70 lakh crore and soon to be Rs 100 lakh crore will dominate the market and domestic investors will determine India’s future not the foreign institutional investors. He also highlighted the need for the industry as wealth creators to have a fair and organised market.

India’s competitive advantage in aluminium production offers a silver lining amid US tariff hike

Bombay Chamber, Mumbai: Effective March 12, 2025, the US intends to eliminate the system of exemptions and quotas on steel and aluminium imports worldwide, reinstating a full 25% tariff on steel, and increasing tariffs on aluminium imports to 25% from 10%. India being a major exporter of aluminium, the US tariff hike is more likely to impact export volumes and realisations for Indian aluminium producers than domestic steel manufacturers.

As per industry estimates, India exported around 40% of its domestic aluminium production in the calendar year 2024 (CY24). The country’s direct aluminium exports to the US are around 6-8% and the sector could see a higher impact from the tariff hike.

“While the impact of tariff hike on aluminium manufacturers is anticipated to surpass steel, India stands to gain from being one of the lowest-cost aluminium producers, owing to the availability of high-quality bauxite reserves,” said Hitesh Avachat, associate director, CareEdge Ratings.

India’s lowest-cost (of aluminium production globally) advantage is mainly on account of the availability of quality bauxite reserves. This improves India’s cost competitiveness in the global market. Industry experts feel this can provide greater cushion to domestic aluminium producers to meet the increased competition from any over-supply scenario arising from the imposition of tariff by the US.

Aluminium production through the primary route remains lower in the US than in the secondary route (scrap route). Thus, the US aluminium industry remains significantly dependent on imports, with around 75% of the US aluminium’s apparent supply (primary + secondary production + imports–exports + adjustments for stock changes; excludes imported scrap) being primarily met through imports. Canada remains the largest exporter of aluminium to the US, followed by UAE and China.

While China remains the largest producer of primary aluminium, holding approximately 60% of the global production share, India ranks as the second largest producer, contributing around 6%. Unlike steel, India is a net exporter of aluminium. The US accounts for about 6-8% of India’s total aluminium exports, representing a larger share of aluminium exports than steel exports.

Commenting on the on impact of US tariff on the Indian aluminium sector, Sehul Bhatt, director – research, Crisil Intelligence, said, the US move to impose a flat 25% tariff on aluminium imports from March 12, 2025, compared with a raft of lower levies now, will have a negative impact on Indian manufacturers of the metal.

“Nearly half of India’s primary production is currently exported, of which around 6% goes to the US. With users of primary aluminium in that country expected to reduce imports after the 25% tariff kicks in, end users there would prefer locally sourced secondary aluminium, or scrap. This, too, will have a bearing on India because around 26% of the aluminium scrap we import comes from the US. Consequently, we foresee some impact on secondary aluminium and alloys producers as well.”

(Write to us at editorial@bombaychamber.com)

 Procurement Notice–State Pharmaceuticals Corporation of Sri Lanka Bid No. – DHS/C/SS/WW/02/25

I wish to inform you that, the Chairman, Standing Cabinet Appointed Procurement Committee of the Ministry of Health, Sri Lanka has invited sealed bids for supply of following items to the Ministry of Health.

Shipbuilding, Indian-flagged vessels offer attractive opportunities, says Piyush Goyal at Bombay Chamber’s international conference on ports, shipping and logistics.

Bombay Chamber, Mumbai: Shipbuilding offers tremendous opportunities in India and it’s an area that private sector shipyards need to focus on. “There is very good business potential in ship-building and the Indian government is also looking at ways to improve the entire ecosystem,” said Hon’ble Union Commerce and Industry Minister Shri. Piyush Goyal.

Shri. Goyal was speaking (via video conferencing) at the 12th Biennial International Conference on Ports, Shipping & Logistics 2025, organised by Bombay Chamber of Commerce and Industry in Mumbai on February 25, 2025.

Seeking inputs from industry stakeholders, Shri. Goyal said, making flagging of vessels in India more attractive is another area where the government would like assistance. “While we have the advantage to allow cabotage, I don’t see many ships getting flagged in India. We can also promote more and more imports coming in on Indian flagged vessels that are permitted within the international trading or WTO trading rules. Sadly, we don’t have enough Indian-flagged vessels to be able to do any of that,” he said.

Shri. Goyal appealed to industry stakeholders to take up the responsibility and guide the government on what needs to be done at the Central or State level to help companies come in with flagged vessels in India. “I understand that financing, leasing and insurance of such vessels is being promoted through the GIFT City already. I wonder if a study has been done of the ecosystem and if it needs further liberalisation, improvisation or amendments, we are happy to look at that as well,” he said.

Training and development of seafarers or merchant navy personnel hold significant potential for job creation in India and globally, said Shri. Goyal. “We’d like the industry to assist in designing and developing a hybrid (online and offline) ecosystem for on-the-job training to increase the number of seafarers in India. The shipping industry has a huge multiplier impact, which we haven’t fully leveraged yet,” he said. He added that container ownership and manufacturing in India, increasing export speeds, and easing port congestion are other crucial areas that need to be looked at as well.

The Indian Ports, Shipping and Logistics industry is a critical component of the country’s economy, facilitating trade and commerce both domestically and internationally. Maritime transport remains the backbone of India’s trade, with around 95% of the country’s trading by volume and 70% by value conducted through this mode. India boasts a coastline of 7,516.6 kilometres, with 12 major and over 200 minor and intermediate ports.

While the sector continues to evolve, driven by significant infrastructure investments, policy reforms, and technological advancements there are several challenges as well. In this regard, the 12th Biennial International Conference on Ports, Shipping & Logistics 2025, organised by Bombay Chamber, attempted to discuss and brainstorm on a variety of topics including geopolitical trends, opportunities and challenges for logistics industry, rail connectivity and multimodal integration for sustainable logistics, driving efficiency through connectivity, future of shipbuilding, strengthening supply chain management, port security and cyber security, women in logistics and, potential of digitalisation among others.

Shri. Rajiv Jalota, Retd. IAS, former chairperson of the Mumbai Port Authority, introduced the conference theme: ‘Sustainable Logistics for Viksit Bharat.’ This theme underscored the industry’s commitment to developing a sustainable and efficient logistics infrastructure that aligns with India’s vision of becoming a developed nation. A strategy report was also unveiled. Jalota explained that the main objective of the conference was to find strategic solutions for improving the efficiency of ‘end-to-end logistics’ in India, with a focus on the customer. Discussions covered areas such as digitisation, connectivity, sustainable logistics, green initiatives, port security, and cyber security in Indian logistics.

Sharing insights from an industry survey, Jagannarayan Padmanabhan, practice head and senior director – Transport, Logistics and Mobility, CRISIL, spoke about a strong pipeline of maritime projects and new ports under development. Among challenges being faced by the industry, he pointed towards issues created by regional political parties, need for sustainable ports and the need for increasing the number of women being employed in the logistics sector.

Need of port connectivity, port lead industrialisation, warehousing and logistics parks were seen by the industry as enablers for ports. CRISIL recommended measures like use of digitalisation, policy support measures, skill development and sustainability as catalysts for the sector’s growth.

In his keynote address, Shri. Amitabh Kant, India’s G20 Sherpa and former chief executive officer, NITI Aayog, discussed opportunities in green shipping technologies, sustainable development and transportation. Shri. Kant highlighted about India being strategically located in the grassroots of international trade, promotion of the blue economy including the Sagarmala Programme. He stressed that government, industry and market players need to work together and unlock the potential of a bright economy.

Shri. Sanjay Swarup, chairman and managing director, CONCOR, talked about the role of Indian Railways in cargo shipment and dedicated freight corridors (DFCs). He said that currently 2,438 kilometres (between EDFC and WDFC) of railway line has been made operational and is dedicated to carrying freight trains. DFCs are designed to be high-capacity and high-speed, and are intended to reduce logistics costs and improve efficiency, he said.

Sharing his perspectives on ‘Sustainable Global Trade: Leveraging Technology for Green Logistics Solutions’, Satya Prasad Sahu, Senior Trade Facilitation Specialist at the World Bank, emphasised the critical importance of supply chain resilience.

Capt. B. K. Tyagi, Chairman and Managing Director of The Shipping Corporation of India, provided insights on the future of shipbuilding in India. He stressed the need to strengthen supply chain management through enhanced design capabilities, technological advancements, skilled labour, low-cost financing, and financial incentives. He also highlighted the importance of Just-In-Time (JIT) with lean management and developing local manufacturing units for major machinery and equipment in collaboration with international original equipment manufacturers (OEMs).

On the topic of women in logistics, Capt. Aakriti Barthwal, QHSE Superintendent, Synergy Navis Marine Pvt. Ltd., talked about making a successful career in the maritime industry while also addressing unique challenges faced by female seafarers.

The conference concluded with a presentation by a group of students from the Indian Institute of Management, Mumbai, who won the Business Case Study competition (Hull Cleaning Challenge). This competition was organised by the Bombay Chamber of Commerce & Industry in collaboration with industry and academia. GAC India served as the competition partner, while IIM, Mumbai participated as the academia partner.

The conference was supported by the Ministry of Ports, Shipping and Waterways. Gold partners included Mumbai Port Authority and Jawaharlal Nehru Port Authority. New India Assurance was the insurance partner, while Navio Shipping Pvt. Ltd. was an associate partner. CRISIL Intelligence served as the knowledge partner, with SOULFLOWER and Daily Shipping Times joining as the gifting and media partners, respectively.

Supporting organisations for the international conference included the Ministry of Ports, Shipping and Waterways, Maharashtra Industry, Trade and Investment Facilitation Cell (Maharashtra, India), Indian Ports Association, Inland Waterways Authority of India (IWAI), Shipping Corporation of India, CHEMEXCIL, SEEPZ, Women’s International Shipping & Trading Association (WISTA), and Indian National Shipowners’ Association.

The conference featured distinguished speakers such as S. Krishnan, IAS, Secretary, Ministry of Electronics & Information Technology (MeitY); Dnyaneshwar Bhalachandra Patil, IAS, Development Commissioner, Santa Cruz Exclusive Export Processing Zone (SEEPZ), Special Economic Zone, Mumbai; P.L. Haranadh, IRTS, Chairperson, Paradip Port Authority; Rajesh Menon, Associate Director, DPIIT, Ministry of Commerce and Industry; Hamdi Osman, Founder and CEO, SolitAir and Rampraveen Swaminathan, MD & CEO, Mahindra Logistics.

The event also saw strong industry participation, with 50% representation from leading companies like Hindustan Unilever Ltd (HUL) and Larsen & Toubro (L&T), among others.

(Write to us at legalipr@bombaychamber.com)

Invitation for Bid – Sri Lankan Catering Ltd Ref No. SLC/DPC/GOODS/2025/070, SLC/DPC/GOODS/2025/071 and SLC/DPC/GOODS/2025/073

We wish to inform you that, the Sri Lankan Catering Ltd. has invited sealed bids for the following.

Please find attached herewith a copy of the procurement notice of the above.

It would be appreciated, if you could kindly make necessary arrangements to disseminate the same among your membership.

Thank you.

With warm regards,

Shirani Ariyarathne

Actg. Consul General, Minister (Commercial)

Consulate General of Sri Lanka

34, Homi Mody Street, Fort, Mumbai 400001

Tel: (+ 91 22 )22045861/22048303, Fax: (+ 91 22) 22876132

E -mail: slcg.mumbai@mfa.gov.lk