Logistics infrastructure and cost of power supply have scope of improvement in Maharashtra for industrial growth, CII Vice President R Mukundan said on Saturday. Mukundan inaugurated the new office of CII Marathwada Zone chaired by Sunil Kirdak. "Last-mile connectivity is important for every industry to run their business smoothly. Improvement in logistics in terms of national and state highways should take place to keep investments coming. Where industry is less, we need more connectivity there," he told reporters. Efforts should be made to make the western region more competitive in terms of power supply and cost of power. There is a need to reduce the cost of power, he added. These two issues have been addressed well but there is a scope of improvement, Mukundan noted. On prospects of exports, he said, "If we need to export from here, we have to increase the number of airports and port facilities also". CII western region deputy chairman Rishi Kumar Bagla said, some airlines h
The use of the technology could reduce the need for maneuvers and route deviation from close encounters with high-risk marine targets
Skye Air, a drone logistics solution provider, on Monday said it has secured USD 4 million (about Rs 34 crore) funding, which will be used to expand the company's operations across Gurugram and other cities for healthcare, and quick-commerce deliveries. The Series A funding was achieved with backing from Mount Judi Ventures, Chiratae Ventures, Venture Catalyst, Windrose Capital, and Tremis Capital. Faad Capital, Misfits Capital, Hyderabad Angels, Soonicorn Ventures and other existing investors, family offices and angels also participated in the funding round. "The fresh capital will help the company expand its last-mile network across Gurugram and other cities for healthcare, e-commerce, and quick-commerce deliveries," said Ankit Kumar, Founder & CEO of Skye Air. He further said that with the Modi 3.0 government at the centre stage, the company envisages a plethora of growth coming in the Indian drone sector, which will make Bharat a global drone hub by 2030. Maple Capital ...
Logistics company Delhivery on Thursday announced a partnership with SUGAR Cosmetics, a home-grown beauty brand to spearhead its pan-India B2B logistic operations. The logistics company has been a long-standing partner for the brand's D2C express parcel shipping, Delhivery said in an exchange filing. Further, Delhivery said in the statement that its extensive networks, technology-driven solutions, and express Part Truck Load (PTL) services will ensure faster delivery of B2B consignments, allowing SUGAR Cosmetics to better serve their retail partners. Commenting on the partnership, SUGAR Cosmetics supply chain Vice President Amartya Guha said SUGAR Cosmetics is on a high growth trajectory and needs a logistics partner that comprehends the demands of the digital native generation. Varun Bakshi, Head of Delhivery's Express Part Truckload business, said that brands like SUGAR Cosmetics, which have an omnichannel strategy, heavily benefit from their express PTL service for quick stock .
According to industry sources, truck rentals were stable as corporates were seen rushing in March year-end to fulfil their targets
Attracting investments from private equity firms even as the Western markets are witnessing a slowdown
The Department for Promotion of Industry and Internal Trade (DPIIT) is planning to engage a research firm to prepare the Logistics Ease Across Different States and Union Territories for the next three years. Every year, the department releases a Logistics Ease Across Different State (LEADS) report, ranking states and Union Territories (UTs) on the basis of their logistics ecosystem and highlights the key logistics-related challenges faced by stakeholders and includes suggestive recommendations. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. The DPIIT has floated a request for proposal for the appointment of consultant for ranking of states on the basis of their logistics efficiency (LEADS report for 2024, 2025, and 2026). "The DPIIT intends to engage a research organisation/consulting or market research firm/academic institution (Consultant) with experience in preparing national/international level reports bas
The platform is currently witnessing an average of 5,000 orders per day
The Central Board of Indirect Taxes and Customs (CBIC) has asked field offices to support in upskilling women logistics service providers and custom brokers as well as for custodians of freight stations to ensure safe and secure working environment. The CBIC has issued two circulars coinciding with International Women's Day on March 8. One relates to encouraging women participation in international trade, while the other is on inclusion of gender specific infrastructure facilities to be provided by the custodians of Inland Container Depot (ICD), container freight station (CFS) and Air Freight Stations (AFS). "It has been decided that in addition the existing infrastructural facilities as provided by the custodian CFS/AFS/ICD -- following gender specific infrastructure facilities may also be encouraged for inclusiveness of women participation," it said. The CBIC said gender responsive infrastructure at the logistics facilities, including sufficient lighting, panic buttons, should be
TVS Supply Chain Solutions Ltd on Thursday inaugurated an ultra-modern multi-client warehousing facility in Hosur, Tamil Nadu, as part of its expansion in the domestic market. The new warehouse offers value-added solutions like automation and data analytics to improve client productivity, the company said. The latest warehouse facility will provide more than 1,200 jobs, of which 300 will be women employees in various roles like kitting and binning, among others, it said. With the addition of this 6.50 lakh square feet of space, the company's total warehousing capacity has increased to 21.85 million sq ft from 21.2 million sq ft of space, TVS Supply Chain Solutions said. Globally, TVS Supply Chain Solutions operates around 300 strategically located warehouses across five continents, covering over 27 million sq ft of warehousing space. "We have strategically positioned our global parts distribution centre in this new facility, which will serve as a hub for our global market," K N ..
The govt's focus on developing logistics infrastructure in the Northeast region (NER) marks a significant step towards unlocking the region's economic potential and promoting inclusive growth
Chimetech Holding on Friday divested 1 per cent stake in logistics and supply chain firm Delhivery for Rs 360 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Chimetech Holding Ltd sold more than 76.64 lakh shares, amounting to a 1.04 per cent stake in Delhivery. The shares were disposed of at an average price of Rs 470.01 apiece, taking the transaction value to Rs 360.25 crore. As of December 2023, Chimetech Holding Ltd owned 1.31 per cent shareholding in Delhivery. Details of the buyers could not be ascertained. The scrip of Delhivery declined 1.78 per cent to settle at Rs 464.70 apiece on the NSE. In another bulk deal on the NSE, Amansa Holdings offloaded shares of pharmaceutical company Suven Pharmaceuticals for Rs 215 crore through an open market transaction. Amansa Holdings sold 31.26 lakh shares of Suven Pharmaceuticals at an average price of Rs 689.19 apiece, taking the deal size to Rs 215.48 cror
Indian freight and logistics market is estimated to grow at 8.8 per cent annually to USD 484.43 billion by 2029 from USD 317.26 billion in 2024 due to technological advancement, as per a report released at logistic fair LogiMAT India. LogiMAT India 2024, the satellite show of Europe's biggest intralogistics exhibition LogiMAT Stuttgart, is organised by Messe Stuttgart India Pvt Ltd on February 28-March 1 at India Expo Mart. According to a statement, the integration of cutting-edge technologies and advancements in intralogistics, automation, warehousing, and transportation management heralds a transformative era for the logistics sector in India. Indian freight and logistics market is poised for remarkable growth. LogiMAT India 2024 projections indicate a surge in market size to USD 317.26 billion by 2024, with a projected CAGR of 8.83 per cent, catapulting it to USD 484.43 billion by 2029. This surge not only signifies robust economic expansion but also holds the promise of ...
The coal ministry is building an AI-powered dedicated logistics platform for the fossil fuel which would integrate all the existing central and state-level coal transport tracking systems
Business deals worth USD 500 million (around Rs 4,148 crore) are expected to be sealed at the three-day international logistics fair international logistics fair, LogiMAT India 2024, which started on Wednesday, organiser Messe Stuttgart India said. The LogiMAT India, a satellite show of the globally renowned LogiMAT Stuttgart, is aimed at transforming the landscape of the Indian logistics industry, a statement said. A staggering USD 500 million deals or transactions are expected at LogiMAT India, showcasing the robust business environment and potential for growth within the logistics sector, the statement said. India's logistics sector, employing nearly 22 million people and valued at USD 215 billion, plays a crucial role in the nation's economy. Positioned strategically, the LogiMAT India aligns with initiatives such as the National Logistics Policy and GatiShakti, aiming to enhance efficiency and reduce logistics costs. By bringing together the industry under one roof, LogiMAT
The company declined to disclose the valuation at which it raised the funds. It was last valued at $632 million, as of April 2022, per data from investment tracker Tracxn
Vestian stated that the sector received investments worth $646 million in 2023, accounting for 15 per cent of the total institutional investment received in the real estate sector
The data released by Vestian Research showed that the absorption has been on the rise since 2021 when it was 30.2 msf