Page 2 - Logistics Industry

XpressBees joins ONDC networks, expands services to 20,000 pin codes

XpressBees' technology-driven approach allows seamless integration with online marketplaces and retailers. This enhances the end-to-end customer experience

11 ministries hold deliberations on improving logistics performance index

As many as 11 ministries and departments, including industry, railways and ports, held deliberations on measures taken and action plans needed for improving India's Logistics Performance Index (LPI) ranking, an official statement said on Saturday. Sumita Dawra, Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) said that a targeted action plan is important to improve the logistics efficiency of the country and India's ranking in the World Bank LPI. She added that the measures taken by the stakeholder ministries and departments will be showcased to the World Bank LPI team. These discussions happen every fortnight to assess the measures taken and outcomes achieved in improving performance across six parameters of LPI including customs, infrastructure, ease of arranging shipments quality of logistics services, tracking and tracing and timeliness. The DPIIT said that in the meeting Land Ports Authority of India (LPAI), highlighted that

DTDC Express looks to invest Rs 100 cr in infra, tech development in FY24

DTDC Express looks to invest at least Rs 100 crore in infrastructure and technology development, among others, this fiscal amid a brighter business outlook, the company's chairman and managing director Subhasish Chakraborty has said. He said the company is also expecting 30 per cent growth in total shipments handling this festive season (October-November) as compared to September. The integrated express logistics operator, which has a presence in both domestic and international markets, offers a range of services including premium express, express parcel, e-commerce b2c as well as warehousing business. "Our investment is happening on infrastructure, technology (upgrade) development as well as building technology team. And this investment, possibly, will not be less than Rs 100 crore this year," Chakraborty told PTI in an interaction. The logistics sector is growing very strongly and is seeing much better and higher growth than the domestic economy, he said. "I am quite sure that w

Road logistics industry anticipates favourable demand in FY2024: ICRA

Rating agency ICRA on Wednesday said that it anticipates a favourable demand scenario for the road logistics sector in FY2024, aided by stable domestic consumption and investment demand. It said the industry's revenue growth is pegged at 6-9 per cent in FY2024 on an elevated base of FY2023, driven primarily by demand from varied segments like e-commerce, FMCG, retail, chemicals, pharmaceuticals, and industrial goods. "ICRA expects the outlook for the sector to remain stable," it said. According to ICRA, downside risks to the estimates remain from any material tapering of demand due to elevated inflation and interest rates and global supply-demand shifts impacting the Indian economic scenario. The industry debt coverage metrics are expected to ease marginally in FY2024 compared to the FY2023 levels with a likely contraction in operating margins because of inflationary input cost pressures, primarily elevated crude oil prices and debt-funded capital expenditure for vehicle replacemen

Rising logistics demand expected to create 10 mn jobs in India by 2027

Buoyed by government policies and rising economic activities, the Indian logistics industry is poised for rapid growth and is expected to create 10 million jobs by 2027, a report said on Thursday. Propelled by recent industry reforms, including the government's Production-Linked Incentive (PLI) scheme, robust production figures, as well as changing consumption patterns, innovative business models such as 3PL (Third-Party Logistics) and surging rural demand, India's logistics industry is poised for rapid growth in the coming years, the report by TeamLease Services said. The sector, which is growing at an annual rate of 12 per cent, is expected to add 10 million jobs by 2027, it said. The Teamlease Services report on the logistic sector is based on secondary sources like current industry reports and market research. "We are witnessing the emergence of a dynamic industry that is poised to create about 10 million new job opportunities over the next five years, owing to a significant ..

Revolutionising logistics: How Gati Shakti is transforming supply chains

By the time the container reaches the port of embarkation, relevant paperwork is already done

Shipping & logistics firm UPS opens India's first tech centre in Chennai

Around 100 candidates were already hired in Chennai with plans to hire 350 by the end of 2023 and up to 1,000 by 2025 across India

Market share, margin gain hopes could drive further gains in Delhivery

The key takeaway in the quarter was the 19 per cent y-o-y growth in express parcel volumes and a 14 per cent rise in revenues of the segment

Leasing of industrial space up 7% in Jan-Jun across tier I, II, III cities

Leasing of industrial and warehousing space rose 7 per cent during January-June to 22.4 million square feet across tier I-III cities mainly on better demand from third party logistics players and manufacturing units, according to property consultant Savills India. The absorption of industrial and warehousing space stood at 20.9 million square feet in the same period last year. Tier I cities accounted for 75 per cent of the total absorption in the first half of 2023, while tier II and III contributed the remaining 25 per cent, the consultant highlighted. Tier I includes cities like Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, Delhi-NCR, and Pune. Tier II and Tier III cities include Guwahati, Bhubaneshwar, Patna, Hosur, Coimbatore, Rajpura, Lucknow, Jaipur, Nagpur, Indore and Surat. As per the data, the leasing in Tier I cities rose 4 per cent to 17.4 million square feet during January-June from 16.8 million square feet in the year-ago period. In tier II and III cities

World MSME Day: Sector reforming to overcome logistic, tech hurdles

On International MSME Day 2023, here's a look at the challenges the sector faces and how it is overcoming them

Blue Dart Express appoints Sudha Pai as CFO with effect from Sept 1

The company also appointed VN Iyer as group chief financial officer

Gains in Delhivery dependent on a sustained improvement in margins

Increasing volumes while cutting costs would be a major challenge

Breaking barriers: Women delivery partners make their presence felt

Logistic companies are also launching multiple initiatives to increase the participation of women

Welspun One, GRT Group ink Rs 700 crore deal for Tamil Nadu project

The projects are being developed by Welspun as part of the memorandum of understanding with the Tamil Nadu government to invest around Rs 2500 crores in the state

India plans to open logistic hub for Indian companies in Panama: Jaishankar

India is exploring the possibility of opening a logistics hub for Indian companies in Panama, External Affairs Minister S Jaishankar has said, asserting that the country's trade with Latin America is growing and nearing USD 50 billion. The minister arrived in Panama on Monday from Guyana. He called on President Nito Cortizo and conveyed the personal greetings of Prime Minister Narendra Modi to him. His strong resonance with PM Modi's Panch Prann reflects the strength of our Global South bonds and shared outlook for the world. Valued his guidance for advancing our bilateral and multilateral partnership, Jaishankar tweeted. Cortizo said, during their meeting, they talked about the will to make an alliance with the Indian pharmaceutical industry to achieve quality, effective and cheaper medicines for Panamanians. "We address the commercial exchange between Panama and India and the advantages that our country offers for the establishment of more companies; also about the opportunities

Smartr Logistics looking to raise $30 mn in Series A funding by August

Smartr Logistics is expecting to raise USD 30 million in Series A funding round by August this year to drive its aggressive expansion plans which include adding pin codes and services offering among others, a top company executive has said. The city-based company is also eying a more-than-two-fold growth in its topline at Rs 200-250 crore this fiscal from an estimated Rs 90 crore in the just concluded financial year, according to Yogesh Dhingra, Founder, Managing Director and Chief Executive Officer of Smartr Logistics. The logistics platform commenced operations in October 2021 with a seed funding of around Rs 100 crore led by IIFL India Pvt Equity Fund and Smiti Holding & Trading Company (Jalaj Dani Family Office). It currently offers services in both air express and ground logistics space.The company had raised close to Rs 100 crore for seed capital, which was a good amount to run the business (in its initial phase). I think investors are quite comfortable to see this. We are .

India's improved 1.7% spend on logistics to set stage for $5 trn economy

India will spend a whopping 1.7 per cent of its GDP on transport infrastructure this year -- around twice the level in America and most European countries -- a feat that has been noticed even by The Economist which called it 'eye-watering' upgrade that will set stage to achieve a USD 5 trillion economy. Prime Minister Narendra Modi's government has hiked capital outlay on infrastructure to USD 122 billion for the fiscal year starting April as it looks to provide a strong impetus to job creation and boost economic activity amid a global slowdown. According to official data, the Modi government has allocated Rs 2.4 lakh crore for railways capital expenditure, nine times higher than the amount in the financial year 2013-14. The funds will mostly be spent on building tracks, new coaches, electrification, and developing facilities at stations. Allocation for roads has jumped 36 per cent to Rs 2.7 lakh crore for 2023-24. There is also the focus on reviving 50 additional airports, heliport

GreenLine Logistics signs LNG supply agreement with Baidyanath LNG

GreenLine Logistics (Green Planet Logistics Pvt Ltd.), India's first and only LNG-fueled heavy trucking logistics company, has entered into an LNG supply agreement with Baidyanath LNG Private Ltd

Ekart to offer warehousing services to brands, manufacturers and retailers

The end-to-end warehousing services by Ekart will include ready-to-use warehousing space, order management, integrated logistics, and inventory management

ITC starts Rs 450 cr food manufacturing, logistics facility in Telangana

Telangana Minister for IT and Industries K T Rama Rao on Monday inaugurated FMCG major ITC's Rs 450 crore state-of-the-art Integrated Food Manufacturing and Logistics Facility at Medak. The inauguration was done in the presence of Sanjiv Puri, Chairman and Managing Director, ITC Ltd, a press release form ITC said. Spread over nearly 59 acres of land, the food processing facility with a built up area of 6.5 lakh sq ft entails an initial investment outlay of Rs 450 crore which will create large scale livelihoods across sustainable agri-value chains. The future-ready facility, equipped with end-to-end digital infrastructure, will be producing ITC's world-class foods brands including Aashirvaad atta, Sunfeast biscuits, Bingo! chips and Yippee! Noodles among others, in phases, it said. Commenting on the launch of the facility, Sanjiv Puri said, "ITC has been strengthening its footprint in Telangana across all three sectors - agriculture, manufacturing and services. Encouraged by the ..