Page 4 - Logistics

West Bengal has Rs 1 trn investment opportunity in port, logistics: Sonowal

Union Shipping Minister Sarbananda Sonowal on Monday said West Bengal has an investment opportunity of Rs 1 lakh crore in the port and logistics sector. He was optimistic about garnering greater interest from domestic and international investors in the 2023 edition of the Global Maritime India Summit. The minister was speaking at the Kolkata roadshow for the summit, which will be held between October 17 and 19 in New Delhi. Sonowal, the union minister for ports, shipping and waterways, is expecting participation from over 100 countries in the ensuing event and a higher number of delegates than the previous 2021 edition of the summit. In the conference two years ago, 475 MoUs were signed worth Rs 3.5 lakh crore, the minister said. He also stated that 75 per cent of the MoUs are "under implementation". The minister stressed the need to unlock investment opportunities in India's maritime sector from both domestic and overseas. He noted that the country has a policy of 100 per cent

Eicher unit to provide electric trucks for Amazon India's delivery ops

Collaboration will introduce 1,000 zero-emission electric trucks for Amazon's delivery work in 5 years

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

Swiggy to acquire retail distribution firm LYNK for undisclosed amount

Food and grocery delivery platform Swiggy on Thursday said it has entered into a definitive agreement to acquire LYNK Logistics Limited for an undisclosed amount. The deal paves the way for Swiggy's entry into India's massive retail market with a technology-led distribution platform. LYNK will continue to operate as an independent business post the acquisition led by its co-founder and CEO Shekhar Bhende, Swiggy stated. It enables leading FMCG brands to grow their retail presence through its network of over 1,00,000 retail stores across the top eight cities. "With this acquisition, Swiggy enters India's food and grocery retail market, which is amongst the world's largest and fastest-growing, estimated to be more than USD 570 billion in size and expected to grow at 8 per cent year-on-year," Swiggy noted. Post-acquisition, LYNK will leverage Swiggy's strength in technology and logistics to rapidly scale the existing platform.

Govt may come out with logistics cost estimate by Sept: DPIIT Official

The government is working on a framework to assess the logistics cost in the country and is expected to get a realistic estimate by September, a senior DPIIT official said on Friday. At present, the government is going by certain estimates, which suggest that India's logistics cost stands at about 13-14 per cent of the country's GDP (gross domestic product). Special Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra said that the government is coming out with its logistics cost framework. The framework would include elements of this cost and how to measure that. "So our framework is being done with the help of our technical partner and it's almost done. But then we have to calculate and I think by the month of September, we will have realistic logistics costs in the country. We will define what are the components and we will have our own estimates," she said while speaking at CII's conclave on trade facilitation. Logistics cost plays a ke

Seeking 'accuracy': Govt to come up with fresh logistics cost estimate soon

Initial indications suggest a number lower than 14-16%, says senior official

Warehousing demand in Bengaluru exceeds new supply by 55% during 2018-22

Leasing of warehousing space in Bangaluru exceeded new supply by 55 per cent during 2018-22 period, resulting in lower vacancy level and increase in rental, according to India Sotheby's International Realty report. Property consultant India Sotheby's International Realty on Wednesday released a white paper 'Ahead of The Curve - Bengaluru Warehousing'. The IT city is likely to witness a surge in investment for development of premium warehousing park to meet growing demand for storage space from e-commerce and third-party logistics players, the paper said. The consultant has taken inputs from real estate data research company CRE Matrix in the white paper. "The demand-supply trend of the last five calendar years (2018-22) shows that demand has outstripped new supply by far, resulting in very low vacancy levels in existing warehousing parks and a decent growth in rentals," the consultant said. The cumulative absorption of warehousing space in Bengaluru during the 2018-22 period stood

Logistics makes the world go around

The focus of the government to improve our logistics is bearing fruit, but this is a battle that must be fought continuously and smartly

Distribution and logistics platform Ripplr raises $40mn to expand footprint

Tech distribution and logistics platform Ripplr on Wednesday said it has raised $40 mn in a Series B round led by Fireside Ventures

Lease of industrial-warehousing space up 11% annually in 5 cities: Colliers

Leasing of industrial and warehousing space rose 11 per cent year-on-year to 7.2 million square feet during the January-March period across five major cities on higher demand form third party logistics and e-commerce firms, according to Colliers India. Real estate consultant Colliers tracks the demand and supply of premium industrial and warehousing spaces, which are primarily being developed in the adjoining micro-markets of five major cities -- Delhi-NCR, Bengaluru, Mumbai, Pune and Chennai. The January-March period saw the highest leasing compared to the previous eight quarters. "This sustained streak in leasing was backed by 3PL (third party logistic) operators who continued to expand across large markets, forming 41 per cent of total leasing during the quarter. This was distantly followed by the FMCG sector at 12 per cent," Colliers said. Interestingly, demand from retail and FMCG sectors saw a three-fold rise YoY (year-on-year), as they expanded their footprints in larger ...

Logistics clusters over 600 hectares on the cards in Uttar Pradesh

Besides, UP is also preparing a blueprint to achieve its ambitious goal of becoming a $1 trillion economy in the next 4-5 years

Air India, Sabre Corporation sign multi-year global distribution deal

Full service carrier Air India on Thursday announced a new multi-year global distribution services partnership with US-based Sabre Corporation. The collaboration enables travel agents and corporations around the world to access Air India fares and seats through Sabre's extensive global travel marketplace, Air India said in a statement. In addition to the distribution services, Air India said it is utilising Sabre's consultancy expertise to help determine optimal routes for its existing and new fleet. Air India earlier this year announced placing a 470 aircraft order with Boeing and Airbus. "We are delighted to further strengthen our relationship with Sabre, and look forward to closer collaboration in the coming years," said Nipun Aggarwal, Chief Commercial and Transformation Officer at Air India. The Indian travel market is back, and it's coming back strong, he said and added, "so, we're delighted to have re-established, and enhanced, our relationship with Sabre at this transforma

Logistics to entail huge scope of investment for youth: MoS Chandrasekhar

Logistics will be an area full of opportunities for young students in the coming years with a huge scope for investment, entrepreneurship and employment, Union Minister of State for Skill Development Rajeev Chandrasekhar said on Monday. He was speaking at a conference on "Transforming Logistics for Coastal Economies" ahead of the third G20 Education Working Group meeting scheduled to be held from April 27 to 29 here. "Logistics will be an area full of opportunities for young students in the coming years, as much as semiconductors, electronics, and information technology, with a huge scope for investment, entrepreneurship and employment. "This is an interesting time for the world, representing opportunities and challenges and in this context, India has become the fastest growing nation of the world. And India is being looked upon by the world with a lot more respect," Chandrasekhar said. The minister noted that the world is looking at resilient logistics and trusted supply chains, .

Selectively ride logistics stocks as tech wave disrupts market: Analysts

With the Covid-19 pandemic crippling the supply-chain management across borders, investors and venture capital firms started to place their bets on logistics, seeing manifold growth in e-Commerce

E-commerce logistics industry to cross 10 bn shipments by FY28: Report

D2C brands across channels are expected to grow overall GMV at 35 per cent in next few years, with brand.com accounting for a significant share of this growth

Cold chain startup Celcius raises Rs 100 crore from IvyCap, others

The company aims to use the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce wastage of perishables

Unable to understand basis for assumption on logistic cost: EAC-PM official

Economic Advisory Council to the Prime Minister (EAC-PM) member Rakesh Mohan on Tuesday said he is unable to find the basis for assuming that logistics cost account for 14 per cent of India's GDP and the assumption forms the basis for government initiatives like production-linked incentive (PLI) schemes. Addressing an event organised by economic think tank ICRIER, Mohan further said he failed to find out how 14 per cent logistic cost number was arrived at by think tanks or researchers. "It seems to be generally accepted that India's logistics costs are significantly higher than global benchmarks. I have tried to look into this, but I can never find what is the basis of this data... this report (CRIER report) repeats the often used number of India's logistics costs being 14 per cent of GDP," former deputy governor of RBI said. The government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the country's GDP. The government has

Government launches mobile app of National Logistics Portal Marine

Ports, shipping and waterways minister Sarbananda Sonowal on Friday launched 'Sagar Setu' mobile app of National Logistics Portal Marine. Sonowal said the app will provide real-time information of activities that are generally not in reach of the importer, exporter, and customs broker, including vessel-related information, gate, container freight stations and transactions. According to an official statement, it also enables digital transactions for payments required for the clearance process of import and export like container freight station charges, shipping line charges, transportation charges, etc. Sonowal said the Sagar-Setu app of the National Logistics Portal (Marine) would help custodians in easier access to functionalities on a hand-held device. The mobile app will ensure data mobility such that approvals and monitoring shall be at the finger tips of port and ministry officials as well as stakeholders, he added.

Centre working to reduce logistics cost to GDP to 7.5% in 5 years: Shah

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday. Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible. The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said. "We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said. Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..

Centre working to reduce logistics cost to GDP to 7.5% in 5 years: Shah

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday. Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible. The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said. "We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said. Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..