Page 6 - Logistics

Hello Logistics sues Instacart founder Mehta for creating 'copycat' startup

Hello Logistics Inc., which operates under the name NextMed, sued Mehta, his business partner Tejasvi Singh, and their company Cloud Health Systems over allegations of misappropriation of trade secret

Warehousing and logistics supplies likely to double by 2030: Report

Warehousing and logistics supplies are likely to double to cross 700 million square feet by 2030, for which more than USD 20 billion additional investment is needed, a report said on Thursday. According to a report by the CBRE Group, which is the world's largest commercial real estate services and investment firm, during the first nine months of 2022 saw the sector getting only about USD 144 million across greenfield and brownfield assets from global investors. The report said that leasing activity in the segment grew 40 per cent to 9.2 million square feet in the third quarter over second quarter. The warehousing and logistics sector requires at least USD 20 billion of fresh investments by 2030 to develop incremental warehousing spaces, most of which will be needed in tier-II and III cities, said the report. It is also estimated that the warehousing and logistics stock will double by 2030 to cross 700 million square feet as occupiers continue to expand across segments such as ...

Logistics services platform Delhivery now live on government's ONDC

Logistics services provider Delhivery on Thursday said its network is now live on the government's Open Network for Digital Commerce (ONDC) platform

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Here is why bidders are keen on Future Group's logistics, warehousing arm

Sources say these companies have expressed their interest in Future Retail assets in the hope that they will acquire assets of Future Supply Chain Solutions as well

EvolutionX Debt Capital makes maiden investment in PharmEasy parent firm

Debt financing platform's investment amount was not revealed; it will make equity infusion later

IndoSpace to invest Rs 3,000 cr in warehousing, logistics space in K'taka

Industrial and logistic parks developer IndoSpace on Friday announced that it will invest Rs 3,000 crore in Karnataka's warehousing and logistics space. The firm already has a strong footprint in the state with its Grade-A industrial parks operational in Bommasandra, Nelamangla I and upcoming facilities in Nelamangala II and Naraspura. IndoSpace said it has signed an initial pact with the Karnataka government for this proposed investment in the state. The pact is for a period of seven years and expected to generate 14,000 new jobs. This investment will help attract further investments in the state and help meet the increasing demands of industries linked with warehousing and logistics, the company said. Karnataka has a growing base in sectors like automobile, electronics, aerospace, agriculture, textiles and engineering and IndoSpace looks to help these industries with warehousing and logistics facilities, said Rajesh Jaggi, Vice Chairman for Real Estate, Everstone Group. IndoSpa

Logistics firm OBCL bags Rs 150-crore transportation contract from Vedanta

Logistics firm Orissa Bengal Carrier Limited (OBCL) has entered into an agreement with mining major Vedanta Limited for the transportation of finished aluminium items. The deal is of around Rs 150 crore and the period of the transportation pact is one year, OBCL said in a statement on Thursday. "OBCL enters into a Rs 146 crore contract with Vedanta Limited led by Anil Agarwal," the Raipur-based company said. As part of the agreement, OBCL said, it will transport finished aluminium items to western business clusters. Vedanta has aluminium processing units in the states of Chhattisgarh and Odisha.

Festival season propels demand for third-party logistics players

Further penetration into smaller cities will only add to this dependence on third-party delivery partners

Best of BS Opinion: Enhancing yields, a leg-up for logistics, and more

Here is the best of Business Standard's opinion pieces for today

A leg-up for logistics

The multi-pronged National Logistics Policy is a well-timed initiative

FM Sitharaman asks states to lessen logistics burden on exporters

Union Finance Minister Nirmala Sitharaman on Friday asked States to adopt a multi-modal approach and ensure logistics did not become a burden on exporters. She said the PM Gati Shakti was a beautiful protocol with which a synergy could be brought in. Delivering the inaugural address after inaugurating the third campus of the Indian Institute of Foreign Trade in Kakinada, Sitharaman referred to 'One District-One Product' and 'Vocal for Local', initiatives, aimed at promoting local products and creating their export markets. She said the Commerce Ministry was working on getting an export policy that would help the exporters by giving them incentives and promoting many things. There's a repetitive and very relevant line that the Commerce Minister refers to We can't be exporting taxes.' We also should identify ways in which those taxes whether Centre, State or local that are on these products should be removed so that we don't burden their exporters, the Finance Minister said. The

Shiprocket becomes first inter-city logistics provider to join ONDC network

Company will enable sellers to select delivery partners to ship products across India

PM GatiShakti has potential to save Rs 10 trn annually, says Goyal

Commerce and Industry Minister Piyush Goyal on Thursday said that PM GatiShakti National Master Plan has the potential to save over Rs 10 lakh crore annually by improving logistics efficiency

15 states among achievers in logistics performance index 2022: DPIIT report

Andhra Pradesh, Assam and Gujarat are among the 15 states and UTs categorised as achievers in the logistics index chart 2022, according to a report released by the commerce and Industry Ministry on Thursday. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. Kerala, Madhya Pradesh, Rajasthan, Puducherry, Sikkim and Tripura are the other states categorised as fast movers in the ranking. The 15 states and UTs ranked in the aspirers category include Bihar, Chhattisgarh, Goa and Mizoram. The report ranks the states on the basis of their logistics ecosystem, highlights the key logistics-related challenges faced by the stakeholders and includes suggestive recommendations, according to the fourth LEADS (Logistics Ease Across Different States) 2022 report unveiled by the Commerce and Industry Minister Piyush Goyal. The index aims at enhancing the focus on improving logistics performance across states which is essential f

Apeejay Surrendra raises Rs 300 cr for logistics, industrial parks biz

The Apeejay Surrendra Group on Thursday said it has raised Rs 300 crore through issuance of debentures for expansion of its logistics and industrial parks business. In a statement, the company said the Rs 300 crore fund has been raised through the Non-Convertible Debentures (NCD) route. The fund will fuel the ongoing expansion drive of Apeejay Surrendra Group's realty division Apeejay Real Estate. BPEA Credit, a leading private alternative investment firm in Asia, has invested in the NCD issued by the Apeejay Surrendra Group. Karan Paul, chairman of Apeejay Surrendra Group, said, "The government projection to reduce costs in the logistics sector by 10% in the next 5 years, unified policy, and a regulatory environment for end-to-end logistics services make the logistics and warehouse more and more promising. Backed by the government policy and with funds coming in, we are now on a rapid expansion drive." Apeejay Real Estate has a diverse portfolio including logistics and industrial

Warehousing transaction volumes grew 62% YoY in FY22: Knight Frank

NCR and Mumbai led the market on overall volumes, while Pune and Hyderabad witnessed the highest percentage growth, at 166% and 128%, respectively

Union Cabinet has approved National Logistics Policy: Anurag Thakur

Prime Minister Narendra Modi last week unveiled the policy which seeks to cut transportation costs by promoting seamless movement of goods across the country

Logistics stks price in most positives; no near-term upside seen: Analysts

The new logistics policy aims to trim the costs to single digits, from 13-14 per cent of the GDP at present, by 2030

Ease of moving

Lower logistics costs will boost output