As 2019 steams on here is an exclusive
overview of today and tomorrow as FlyingTypers asks an elite group of
the best and brightest transportation executives of India what they think
of the current world situation.
Bharat J. Thakkar has been a part of the air cargo industry
for over four decades.
About USA-China Trade War?
“I am not an economist, astrologer
or diplomat. Nor am I from the political class but I have been in the
industry since 1973.
“I would look at the overall impact
of pressure from retailers and if there are no further speed breakers
of tariffs on China, it will be music to our ears.
“Our Christmas party will not be ruined
– that is my understanding and reading.
“One cannot predict if a trade war
will eventually benefit America but it caused markets to soar sometime
ago. However, the gains were erased a day later amid new fears of an impending
Impact Of Tariffs On Business?
“India has flights into 13 airports
from the Far East and not all goods from China fly from Hong Kong into
“However, electronic, trimmings, shipments
from Shenzen, are trucked to HKG.
“Some shipments have got stuck and
whenever such a disruption happens, there is a lesson to be learnt and
inventory methods have to be changed. In any case we have seen production
shift to other countries.
“Our forwarder partners who used space
blocked by wholesalers suffered as exports were hit, but again it was
a temporary situation.
About The Christmas Rush
“The Indian economy is still stable
amongst all who are being bitten by the global slowdown.
“Let’s take an example of H&M
who sees no slowdown in India: their report of the second quarter ended
May 2019 showed 39 percent increase over 2018 in the domestic market while
fashion apparel grew 5-7 percent globally.
“However, H&M has shifted to digital
and are now setting up their own digital platform.
The Year That Was 2019?
“Air cargo is in decline for the eighth
consecutive month, states the International Air Transport Association
(IATA) released data.
“Can’t complain. I am satisfied.
“Without slowdown obviously, it could
have been better.
“Air cargo should not get slower than
what we have experienced so far. Every day there is a new barricade.
“It should be better than 2019 and
since this is a global slowdown and issues are not just USA, China or
“The Indian auto industry crisis is
similar to Germany, and Brexit for that matter will create stress.
“With no deal, trucks may get detained
for weeks; therefore, essential commodities into UK will have to fly.
“Exports have shown the resilience
of the Indian exporting community even during such tough times and sluggishness
in the global economy.