Page 5 - Supply Chain

TVS Supply Chain Solutions posts net loss of Rs 65 crore in first quarter

Expansion in existing engagements and new business development drove revenue growth. During the quarter, the company commenced a seven-year transformational engagement with Centrica PLC

India-Middle East-Europe corridor to make supply chain more resilient: EEPC

The proposed 'India-Middle East-Europe Economic Corridor' announced during the just-concluded G20 Leaders' Summit in Delhi will prove to be a game-changer project and provide huge impetus to global trade, Engineering Exports Promotion Council India (EEPC India) said on Monday. The corridor will also make the "global supply chain more resilient", EEPC India chairman Arun Kumar Garodia said. The project seeks to connect India with Europe via the Middle East by sea and port. This will redefine the movement of goods and services across the continents as it will bring down logistics costs and ensure quicker delivery of shipments, Garodia said in a statement. For India's engineering exports sector, both the Middle East and Europe are key markets, and having transport infrastructure of this scale will greatly enhance its competitiveness globally, he said. Garodia also said the investment in the transformative project will greatly boost economic activities, create jobs, and most important

India, US express support for building resilient semiconductor supply chain

India and the US on Friday expressed their support for building a resilient global semiconductor supply chain while reaffirming a pledge to sustain high-level engagements between governments, industries and academic institutions. In a joint statement issued their bilateral talks here, Prime Minister Narendra Modi and US President Joseph Biden called upon the two governments to continue the work of transforming the India-US Strategic Partnership across all dimensions based on trust and mutual understanding. The meeting was held soon after Biden arrived in New Delhi to participate in the G20 Summit to be chaired by Prime Minister Modi. The two leaders expressed their support for building resilient global semiconductor supply chains while noting a multi-year initiative of Microchip Technology to invest approximately USD 300 million in expanding its research and development presence in India and also Advanced Micro Device's announcement to invest USD 400 million over the next five years

Quick commerce unicorn Zepto makes Ankit Agarwal chief product officer

Senior executive will be in charge of company's supply chain and consumer management in new role

FMCG items start to pile up in supply chain as demand starts to taper off

Inventory days and credit days on the rise

Flipkart to generate over 1,00,000 jobs ahead of the festive season

The e-commerce firm is planning to deliver more than 40% of shipments during the festive event through our Kirana delivery programme

AI fused with trade data may finally smooth clogged supply chains

AI tools are helping many organizations simplify trade-data analysis in ways that may help smooth cross-border commerce

WB blast: Supply chain kingpin arrested, sent to police custody till Sep 8

The alleged supply chain kingpin in the Duttapukur blast case was arrested and sent to police custody till September 8 after being produced before a court, police said on Saturday. The accused, who had fled to Chennai after the blast in an illegal firecracker manufacturing unit in Duttapukur area in North 24 Parganas district on August 27, was nabbed following his return to Kolkata on Thursday, a senior police officer said. He was produced before a court in Barasat on Friday and remanded to police custody till September 8. "The man had fled to Chennai after the incident. Based on prior information, a team of the West Bengal Police Special Task Force arrested him as soon as he stepped out of the Netaji Subhas Chandra Bose International Airport on Thursday," the officer said. He is suspected to have been involved in procuring finished fireworks from the illegal units in Duttapukur, including the one in which the blast occurred, and supplying those to clients, the officer said. The .

TVS Supply Chain Solutions appoints R Dinesh as Executive Chairman

TVS Supply Chain Solutions said on Tuesday its founder-promoter R Dinesh has been appointed the Executive Chairman of the company's Board. Dinesh, who was the Executive Vice Chairman of the newly listed TVS Supply Chain Solutions, will take over from S Mahalingam, the company said in a statement. Mahalingam stepped down as chairman after completing two terms as Independent Director, effective August 29, it said. Besides, the company also announced the appointment of K Ananth Krishnan and Narayan K Seshadri as additional Independent Directors on its Board. With this appointment, the new board will have five Independent Directors, it said. At the same time, the company said, S Ravichandran, Non-Executive Director has resigned from the Board of the company to pursue his personal interests.

Tomato prices decline in Karnataka to Rs 20 per kg as supply improves

From a high of Rs 140 per kg in the wholesale market a few weeks ago, the prices of tomatoes have come down sharply in parts of Karnataka to about Rs 20 as supply of the commodity has improved substantially, officials said on Monday. In the Mysuru APMC (Agricultural Produce Marketing Committee) yard, for example, tomato prices were down to Rs 14 per kg on Sunday. "Last week, the average price of tomatoes was Rs 18 to Rs 20 per kg as the supply has improved," Mysuru APMC Secretary M R Kumaraswamy told PTI over telephone when contacted. Market sources said the supply of the commodity has improved by two to three times compared to last month leading to sharp decline of their prices. "The highest price of tomatoes at the wholesale rate at Mysuru APMC was Rs 140 per kg last month," Kumaraswamy said. Retail prices of tomatoes are now ruling around Rs 30 in the State, he added.

Jaishankar discusses supply chain resiliency with US trade representative

Jaishankar was also a part of Prime Minister Narendra Modi's delegation at the 15th BRCIS Summit in Johannesburg, South Africa

Should you subscribe to TVS Supply Chain IPO? Here's what brokerages say

The objective of the issue is repayment of outstanding borrowings and general corporate purposes

TVS Supply Chain Solutions prepares for initial share sale: R Dinesh

TVS Supply Chain Solutions, a part of TVS Mobility Group, is gearing up for the initial share sale that would be open for public subscription from August 10 onwards, officials said on Wednesday. The city-based company is hitting the capital market after a gap of nearly 29 years, Executive Vice-Chairman R Dinesh said. "I think the last time when we raised (funds) was in 1994...," he told reporters. The price band has been fixed at Rs 187-197 for the Rs 880 crore initial public offering (IPO), valuing the company at Rs 8,700 crore. The initial share sale comprises Rs 600 crore of fresh issue and Rs 280 crore sale by the promoters. The IPO would be open for subscription during August 10-14, he said. At the upper end of the price band, the IPO is expected to fetch Rs 880 crore. From the issue's proceeds, Rs 525 crore will be used for pre-existing debt repayment and its subsidiary TVS LI UK. A portion of the fund would also be used for "inorganic growth" and general corporate ...

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

Commerce dept seeks Centre's nod for US-led IPEF 'supply-chain' agreement

The primary goal of the agreement is to enhance the 'resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity' of supply chains

KredX to disburse Rs 2,000 cr in working capital for MSME sector

Tier-two cities expected to have 35% growth in demand for such financing compared to last year, says firm

India focused on all key elements of semiconductor ecosystem: Vaishnaw

India is focused on all key elements of semiconductor ecosystem from design to manufacturing, and the nation is emerging as a trusted partner in global value chains, IT Minister Ashwini Vaishnaw said on Friday. In today's economy, semiconductors are required in every sector, Vaishnaw said addressing Semicon India 2023. Demand for electronics is growing every year, the minister added. Talking about Micron's mega plans for India, Vaishnaw said construction of the unit will start soon.

TVS SCS secures deal worth Rs 2,000 crore from UK-based Centrica PLC

The company did not divulge the size of the deal

Yellen visits Vietnam to build US ties to offset tensions with China

The US considers building strong economic and security ties with Vietnam a priority, US Treasury Secretary Janet Yellen said Thursday as she met with Vietnamese officials in a visit aimed at fortifying America's relations across Asia. Yellen arrived in Vietnam after visits to Beijing and to India, where she attended financial meetings of the Group of 20 major industrial economies. The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific, Yellen told Vietnamese Prime Minister Pham Minh Chinh, according to remarks provided by the US Treasury Department. A free and open Indo-Pacific refers to the latest iteration of broad US diplomacy aimed at cultivating stronger ties with other countries in the region to in effect counter China's growing sway among its neighbours. Vietnam is also a close economic partner, with our two-way trade reaching record highs last year and the United States serving as Vietnam's largest export market, she said. It is a prior

Godrej Aerospace eyes share of GE 414 engine manufacturing, supply chain

Godrej Aerospace will be pitching to manufacture modules of the engine, a company official told Reuters during a plant visit