Page 2 - Supply Chain

Next meeting of IPEF's Supply Chain Council in Dec: Commerce ministry

The next meeting of the Supply Chain Council, set up under an agreement of the 14-member IPEF, will be held in December, the commerce ministry said on Monday. The IPEF (Indo-Pacific Economic Framework for Prosperity) bloc was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23, 2022, in Tokyo. Together, they account for 40 per cent of the world's economic output and 28 per cent of trade. The framework is structured around four pillars relating to trade, supply chains, clean economy and fair economy. India has joined all the pillars except the trade. Australia, Brunei Darussalam, Fiji, India, Indonesia, Japan, the Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, the US, and Vietnam are members of the bloc. The Supply Chain Resilience Agreement came into effect on February 24. It seeks to strengthen supply chains through engagement among the partner countries. Under this agreement, three institutional bodies have be

Tata Power to scale up internal renewable energy component supply chain

Plans to manufacture key parts rather than buying them

Regulatory, supply chain challenges affecting growth of medtech sector

Industry also faces shortages of component suppliers and talent, particularly in research and development

Supply chain and talent woes pose challenges to Indian semicon industry

India's nascent semiconductor industry is also facing challenges in attracting talent back to the country after undergoing training abroad

Expect strong demand, occupancy in Q3, Q4 after subdued 1st qtr: EIH Ltd

Hospitality major EIH Ltd expects strong demand and occupancy in the third and fourth quarters of this fiscal after witnessing moderation in the April-June period due to elections and heatwave, according to its Managing Director and CEO Vikram Oberoi. The impact of this year's general elections on demand was higher compared to the previous elections, he told analysts. "Really, as a function of supply and demand, we had the election this year and I think at least our analysis shows that when compared to previous elections, which we looked over the previous election, we looked at the impact on this election has been more than in the previous election. We looked at the last election as well," Oberoi said. Besides, he said in many cities in Rajasthan where the company has leisure hotels and in Agra, temperatures have been extremely high this summer. "We still remain optimistic that foreign travel is bouncing back. And with strong Indian demand from the domestic market for luxury hotels

TVS SCS wins 3-year contract from manufacturing firm JCB for Vadodara unit

JCB has been one of TVS SCS's first few clients for more than two decades, with TVS SCS offering aftermarket warehouse services in Bhaproda, Haryana, for parts distribution

TVS Supply Q1 results: Net profit at Rs 7.5 cr on strong topline growth

TVS Supply Chain Solutions Ltd has recorded a a consolidated profit after tax for the April-June 2024 quarter at Rs 7.5 crore driven by strong topline growth in Integrated Supply Chain Solutions and Network Solution verticals, a top official said. The city-based company part of the TVS Mobility Group had registered a net loss of Rs 5.4 crore during the corresponding quarter of last year. Commenting on the financial performance Managing Director Ravi Viswanathan said, "We had a strong first quarter, driven by topline growth in both our ISCS (Integrated Supply Chain Solutions) and NS (Network Solutions) segments. The ISCS segment continues to lead our performance supported by significant volume improvements in the NS segment." Revenue during the quarter under review grew by 4.7 per cent to Rs 2,539.4 crore from Rs 2,426.3 crore registered a year ago. Continued growth momentum in Integrated Supply Chain Solutions and improved macro-economic situation in Network Solution businesses hel

Union Budget 2024: Logistics and supply chain sector set to surge

The Budget's commitment to infrastructure development is evident in its substantial allocation of Rs 11.11 trillion for capital expenditure, amounting to 3.4 per cent of GDP

Monumental stride in positioning India as logistics powerhouse: Industry

The Union Budget for 2024-25 has taken a "monumental stride" towards positioning India as a global logistics powerhouse as it focuses on infrastructure development, leveraging technology and supporting MSMEs, logistic and shipping industry executives said on Tuesday. "The Union Budget is a monumental stride towards positioning India as a global logistics powerhouse," Gregory Goba Ble, UPS Managing Director in India, said. "This budget has hit all the right notes - focusing on infrastructure development, leveraging technology and supporting MSMEs including traditional artisans through innovative measures such as e-commerce export hubs," He said the initiatives for infrastructure development, particularly the announcement of new economic corridors, along with strategic investments in roads and airports, are poised to streamline logistics operations, reduce costs and enhance connectivity across key regions, charting a clear path towards a more robust, efficient and globally competitive

Bigbasket ventures into SaaS-based supply chain platform BB Matrix

BB Matrix will provide three SaaS verticals - a Warehouse Management System (WMS), a Transport Management System (TMS), and an Order Management System (OMS)

India plans geological mapping and mineral exploration in Zambia

India seeks to access African nation's critical minerals to diversify its supply chain and strengthen bilateral ties

Tyre makers see severe crunch in domestic natural rubber availability: ATMA

Automotive Tyre Manufacturers' Association on Wednesday said its members are witnessing a 'severe crunch' in the availability of domestic natural rubber and it may disrupt production unless supply issues of the raw material are addressed. Despite high prices of natural rubber (NR), its availability has shrunk, Automotive Tyre Manufacturers Association (ATMA) said, expressing apprehension that some "sections of natural rubber producing interests or trade are withholding the material in anticipation of an increase in the NR prices worsening the availability". The "tyre industry has been experiencing tightness in domestic availability of natural rubber for some time. However currently a severe crunch is being witnessed despite the fact that NR prices have touched a multi-year high. The paucity of natural price needs to be addressed at the earliest so that tyre production processes are not disrupted," ATMA Director General Rajiv Budhraja said in a statement. The Rubber Board had estimat

African, Asian tea producers flag concerns over demand-supply mismatch

Associations of tea producers in Asia and Africa have flagged concerns over the global mismatch of demand and supply and called for an early restoration of equilibrium, according to a statement issued by a planters' body on Friday. In a meeting of the stakeholders of the global tea industry, recently held in Dubai, the associations also addressed the issue of quality and long-term sustainability of the sector. Indian Tea Association (ITA) chairman Hemant Bangur said that the global tea industry is facing a demand-supply mismatch as production continues to outpace demand. Representatives of ITA, East African Trade Association (EATTA), independent tea producers' body of Kenya, and tea associations of Malawi, Bangladesh and Uganda attended the meeting. They voiced concern over stagnating consumption demand in Europe and Asia, the ITA said in a statement. Bangur said, "Africa with its growing population and rising income has the potential to become one of the largest markets for black

Allcargo Logistics arm partners with ShipBob for freight services

ECU Worldwide, a wholly-owned global subsidiary of Allcargo Logistics, on Thursday said it has partnered with ShipBob to offer its ocean and air freight services to the latter's receiving hubs and fulfilment centres in the US, Europe, Canada and Australia. Under the collaboration, ECU Worldwide will become an integral part of FreightBob, an end-to-end managed freight and inventory distribution programme of ShipBob, through its network across over 180 countries, more than 2,400 direct trade lanes and door-to-door deliveries, Allcargo Logistics said. This would help ShipBob manage its e-commerce inventory for their merchants in over 50 markets, as a part of ECU Worldwide LCL (less-than-container load) offering, it stated. "Our new-age tech-driven booking platform ECU360 has redefined the global supply chain efficiency with convenient features, continued product innovation and a worldwide network. The association with ShipBob will help us further deepen our delivery capabilities acros

UST acquires Endeavor Consulting Group for an undisclosed amount

Founded in 2006, Endeavor serves clients in North America and Europe and has expertise in life sciences sectors

Biden's efforts to reshape global supply chains gather pace in Asia

Taiwan's booming exports to the US are just one example of the way great-power tensions have already reshaped supply chains - and how China is getting left out of some of them

Asian stocks slide, gold rises as Middle East crisis sparks safety rush

Oil prices, however, hardly reacted to the news, as traders had largely priced in a retaliatory attack from Iran that would likely further disrupt supply chains

4 shocks pushed up prices, led to supply disruptions and price reactions

Easing inflation, a smaller fiscal deficit and a turn in US Federal Reserve's policy rates create grounds for policy rate cuts in India

Govt extends export benefits under the Rodtep scheme to SEZ units

The government on Friday extended export benefits under the RoDTEP scheme to companies in the special economic zones (SEZs) and export-oriented units (EOUs). The commerce ministry said that amid global economic uncertainties and supply chain disruptions, extending RoDTEP benefits to the uncovered sectors like AA (advance authorisation), EOUs, and SEZ units will help the exporting community in handling the international headwinds. "The government has announced the extension of the RoDTEP scheme support to additional export sectors i.e. Advance Authorisation holders, Export Oriented Units and Special Economic Zones export units," the ministry said. This decision comes in recognition of the significant contribution these sectors make to India's exports, constituting about 25 per cent of the total shipment. The government, in August 2021, announced the rates of tax refunds under the export promotion scheme -- Remission of Duties and Taxes on Exported Products (RoDTEP) -- for 8,555 ...

TVS Supply Chain Solutions expands warehousing footprint in India

The warehousing solutions are equipped with cutting-edge technology systems and top-of-the-line material handling equipments