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logistics sector

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

Monumental stride in positioning India as logistics powerhouse: Industry
Updated On : 23 Jul 2024 | 9:28 PM IST
Updated On : 02 Jul 2024 | 4:24 PM IST

Indian family offices change startup bets after funding peaked in 2021

Consumer, retail and transportation and logistics technology startups have been the largest beneficiaries

Indian family offices change startup bets after funding peaked in 2021
Updated On : 28 Jun 2024 | 11:29 PM IST

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Updated On : 27 Jun 2024 | 8:39 PM IST

Budget 2024 expected to boost infra, and logistics with increased capex

Even as the industry wants a 25% increase in capex allocation in the Budget for FY 2024-25 over revised estimates for FY24, experts feel there may be limited capacity to spend on projects

Budget 2024 expected to boost infra, and logistics with increased capex
Updated On : 19 Jun 2024 | 11:36 AM IST

ULIP offers huge opportunity for states to enhance logistics sector: DPIIT

The Unified Logistics Interface Platform (ULIP) offers huge opportunities for states to enhance their logistics frameworks, a top government official said on Monday. Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh encouraged all states to actively leverage ULIP and drive forward a seamless, efficient and inclusive logistics sector across India. The platform was launched on September 17, 2022, as part of the national logistics policy. It is a digital gateway that allows industry players to access logistics-related data sets from various government systems through API-based integration. Currently, the platform integrates with 37 systems from 10 ministries via 118 APIs, covering over 1,800 data fields. Private sector participation in the ULIP has been instrumental in amplifying its impact, with over 900 companies registered on its portal. Additionally, these companies have developed over 90 applications, leading to more than 35 crore API .

ULIP offers huge opportunity for states to enhance logistics sector: DPIIT
Updated On : 20 May 2024 | 10:06 PM IST

Cost, speed top priority for logistics sector: Last-mile trends report 2024

Cost and speed has now become the top priority of the firms engaged in logistics business for the last-mile delivery of goods and growth of the sector, a report has said. According to the Last-Mile Trends Report 2024, earlier the top priority was cost and satisfaction. "In last-mile delivery now top priority is cost and speed. The needle has shifted from cost and satisfaction to cost and speed," it said. The report was unveiled during 'The Last Mile Leaders Event" organised by technology platform FarEye in collaboration with Microsoft this week. Kushal Nahata, Co-founder and CEO of FarEye, said that within the next five years, autonomous drones will handle 30 per cent of urban deliveries, reducing delivery times and costs dramatically. The report was based on insights gathered from over 300 leaders across five continents, representing companies with a combined revenue exceeding USD 100 billion. Out of 300 participants, over 50 per cent stated that they deliver the goods same day/

Cost, speed top priority for logistics sector: Last-mile trends report 2024
Updated On : 21 Apr 2024 | 11:52 PM IST

Indian road logistics industry revenues to grow at 3-6% in FY25: ICRA

The Indian road logistics industry's revenue will remain range-bound and grow at a slower pace of 3-6 per cent in the current financial year, rating agency ICRA said on Monday. The rating agency further said it expects softening in the government capex during the elections (given the Model Code of Conduct requirements) and moderation in consumer demand sentiments amid high inflation and interest rates. ICRA said operating profit margins are expected to remain range-bound at 10.5-12.5 per cent in FY2025 as concerns on cost inflation persist. The outlook for the sector continues to be stable, fuelled by sustained momentum in economic activities, enhanced traction of organised trade and continued support from varied segments like e-commerce, FMCG, retail, pharmaceuticals, and industrial goods. It said e-way monthly volumes remained largely stable in the last four months at above 85 million, post reporting all-time high volumes of 100 million in October 2023, signifying resilient domes

Indian road logistics industry revenues to grow at 3-6% in FY25: ICRA
Updated On : 08 Apr 2024 | 6:52 PM IST

Eastern Railway earned highest freight revenue of Rs 7,774 cr in FY24

The Eastern Railway has earned its best-ever freight revenue of Rs 7,774.62 crore in the financial year 2023-24, an increase of 19.47 per cent over the previous fiscal, an official said here on Monday. The Kolkata-headquartered zonal railway recorded a growth of 8.91 per cent in passenger revenue, earning Rs 3,573.31 crore in 2023-24, he said. It achieved a freight loading of 86.87 metric tonnes in 2023-24, which is nine per cent more than the previous fiscal. Eastern Railway received Rs 7,774.62 from freight revenue in 2023-24, recording a 19.47 per cent increase over the previous fiscal 2022-23, the official said. It also achieved a best-ever scrap sale revenue of Rs 479.98 crore in the just concluded financial year, he said, adding that this demonstrates effective resource management and revenue optimisation strategies by the zonal railway.

Eastern Railway earned highest freight revenue of Rs 7,774 cr in FY24
Updated On : 01 Apr 2024 | 6:48 PM IST

Need to focus more on security aspects related to air cargo: Home secy

Home Secretary Ajay Kumar Bhalla on Monday said the country's civil aviation sector is witnessing rapid growth that will also bring different kinds of challenges, and highlighted the need to look more at security aspects related to air cargo. Speaking at the function to mark the 38th Raising Day of the Bureau of Civil Aviation Security (BCAS) in the national capital, he emphasised the need for using cutting-edge technologies in various areas, including surveillance. The country's aviation sector is seeing rapid growth and records are likely to be set in 2024. In the years to come, it will be much more, Bhalla said. However, he also said challenges of different kinds are also going to come. One area of concern is about air cargo, Bhalla said, underlining the need to look more at the security aspects in this regard, especially the "safety and security of multi-modal transport". While stressing that all have to put their efforts together, Bhalla said new technologies are creating mor

Need to focus more on security aspects related to air cargo: Home secy
Updated On : 01 Apr 2024 | 4:16 PM IST

All-Indian crew on container ship that collided with Baltimore bridge

The entire 22-member crew of the cargo ship that struck a major bridge in Baltimore early Tuesday, causing it to snap and plunge into the river below are Indians, the company said. The Singalpore-flagged container ship "Dali" collided with one of the pillars of the Francis Scott Key Bridge in Baltimore at approximately 1:30 am local time. According to the vessel information provided by the Synergy Marine Group, the crew was All Indian, 22 in total. The "Dali" has a capacity of 10,000 TEU and onboard Units: of 4,679 TEU. Grace Ocean Private Ltd owns the vessel and the ship's movement was outbound from Baltimore to Colombo. Owners and managers of the Singapore-flagged container ship DALI report that the vessel collided with one of the pillars of the Francis Scott Key Bridge, Baltimore, whilst under pilotage with two pilots onboard, at approximately 01:30 local time on March 26, ship management company Synergy Marine Group said in a statement. It said: All crew members, including th

All-Indian crew on container ship that collided with Baltimore bridge
Updated On : 26 Mar 2024 | 9:48 PM IST

'IAF's Gagan Shakti exercise from Apr 1, Army providing logistical support'

The Indian Air Force's 'Gagan Shakti' mega exercise is slated to be held over 10 days starting April 1, encompassing both western and northern fronts, sources said on Tuesday. Fighter planes and helicopters taking off from different parts of the country will "engage pseudo targets" at Pokhran Field Firing Ranges in Rajasthan during the massive exercise held every five years, the sources in the defence establishment said. Ahead of 'Gagan Shakti 2024', the Indian Army has been involved in providing logistical support to the IAF in the true spirit of "achieving synergy in various domains", they said. The exercise "encompassing both the western and northern fronts" is scheduled to be conducted from April 1-10, they said, The Army has facilitated a "comprehensive pan-India move of approximately 10,000 IAF personnel" and ammunition to validate the Operational Rail Mobilisation Plan (ORMP) aspects of the IAF, the sources said. "This involved formulation and facilitation of rail move plan

'IAF's Gagan Shakti exercise from Apr 1, Army providing logistical support'
Updated On : 26 Mar 2024 | 9:23 PM IST

Cabinet approves inter-governmental agreement between India-UAE on IMEC

The Union Cabinet on Wednesday approved an inter-governmental framework agreement between India and the United Arab Emirates on cooperation for the India-Middle East Europe Economic Corridor. The aim of the inter-governmental framework agreement (IGFA) is to enhance the bilateral ties and further strengthen the relations between the two countries in ports, maritime and logistics sectors, an official statement said. IGFA includes areas of cooperation with the objective of exploring the further potential of future joint investment and collaboration with respect to the development of the India-Middle East Europe Economic Corridor (IMEC). The agreement contains a detailed framework for cooperation between the two countries. The cooperation will be based on a set of mutually agreed-upon principles, guidelines and agreements, consistent with the relevant rules and regulations of the countries' jurisdiction.

Cabinet approves inter-governmental agreement between India-UAE on IMEC
Updated On : 13 Mar 2024 | 7:36 PM IST

CBIC issues circular to encourage women participation in logistics, trade

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

CBIC issues circular to encourage women participation in logistics, trade
Updated On : 09 Mar 2024 | 8:09 PM IST

Indian logistics market to grow at 8.8% annually to $484 bn by 2029: Report

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 ...

Indian logistics market to grow at 8.8% annually to $484 bn by 2029: Report
Updated On : 01 Mar 2024 | 5:57 PM IST

Messe Stuttgart expects deals worth $500 million at LogiMAT India

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

Messe Stuttgart expects deals worth $500 million at LogiMAT India
Updated On : 28 Feb 2024 | 3:38 PM IST

Logistics firm Shadowfax raises $100 million in TPG-led funding round

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

Logistics firm Shadowfax raises $100 million in TPG-led funding round
Updated On : 27 Feb 2024 | 6:09 PM IST

Allcargo Supply Chain to add 3 mn sq ft of warehousing space in 2-3 yrs

Allcargo Group's logistics arm Allcargo Supply Chain Private Limited (ASPL) on Monday said it aims to add a 3 million square feet of warehousing space in the next two-three years as part of its expansion plan. Currently operating with 6 million sq ft of space, the company said in the initial phase of expansion, it plans to begin from the north and south regions. ASPL has warehouses spread across more than 80 locations in India. The company said its nationwide expansion plan includes the establishment of standardized warehouses equipped with cutting-edge facilities. These warehouses will cater to all sectors, with ASPL's client distribution comprising 25 per cent from the chemical sector, 30 per cent from e-commerce, 25 per cent from auto engineering, and 15 per cent from other verticals, it said. "Our expansion plan is not just about increasing square footage; it's about strengthening our capabilities to better serve our clients. "With modern infrastructure and advanced Warehouse

Allcargo Supply Chain to add 3 mn sq ft of warehousing space in 2-3 yrs
Updated On : 26 Feb 2024 | 5:35 PM IST

Allcargo Logistics Q3 results: PAT down 88% at Rs 17 cr, revenue falls 22%

Allcargo Logistics Ltd on Tuesday reported an 88 per cent decline in consolidated Profit After Tax (PAT) to Rs 17 crore in the December quarter. The company had posted a consolidated PAT of Rs 146 crore in the year-ago period, Allcargo Logistics said. Revenue from operations in the third quarter of the ongoing fiscal fell 22 per cent to Rs 3,212 crore from Rs 4,127 crore a year ago, the company said. The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 111 crore during the quarter under review as against Rs 253 crore, registering a 56 per cent decline, it said. The company said it expects the global trade to revive in the second half of 2024. In the near term, Red Sea crisis has taken out some capacity from the market, leading to a balance against subdued demand, which should have marginal positive impact in the June quarter, Allcargo said. It also said the company has undertaken major cost reduction initiatives that will help signific

Allcargo Logistics Q3 results: PAT down 88% at Rs 17 cr, revenue falls 22%
Updated On : 13 Feb 2024 | 5:33 PM IST

Logistics' cost structure biggest challenge for e-commerce: Flipkart CEO

E-commerce in India is at a nascent stage and cost structure of logistics is the biggest challenge for the segment, a top official of Flipkart said on Tuesday. Speaking at Walmart Growth Summit, Flipkart CEO Kalyan Krishnamurthy said the government has simplified taxation and adopted ease of doing business as a strategy, which is one of the factors driving growth of the e-commerce segment. "One of the biggest challenges for e-commerce alone to solve is the cost structure of logistics. India, in general is a low ticket price market. Whenever we are able to get to further (lower logistics) cost structure, is when we will be able to further increase the penetration in commerce," Krishnamurthy said. The e-commerce company has plans to transition its delivery fleet to electric vehicles by 2030. Krishnamurthy said the e-commerce penetration in India is around 7-8 per cent compared to retail but in some product categories like electronics, it is high. "Tax simplification used to be one o

Logistics' cost structure biggest challenge for e-commerce: Flipkart CEO
Updated On : 13 Feb 2024 | 3:45 PM IST