Business Standard

Supply chain

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

Union Budget 2024: Logistics and supply chain sector set to surge
Updated On : 26 Jul 2024 | 12:23 AM IST

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

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)

Bigbasket ventures into SaaS-based supply chain platform BB Matrix
Updated On : 18 Jul 2024 | 7:11 PM IST

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

India plans geological mapping and mineral exploration in Zambia
Updated On : 07 Jul 2024 | 7:04 PM IST

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

Tyre makers see severe crunch in domestic natural rubber availability: ATMA
Updated On : 03 Jul 2024 | 5:11 PM IST

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

African, Asian tea producers flag concerns over demand-supply mismatch
Updated On : 22 Jun 2024 | 12:12 AM IST

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

Allcargo Logistics arm partners with ShipBob for freight services
Updated On : 13 Jun 2024 | 5:05 PM IST

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

UST acquires Endeavor Consulting Group for an undisclosed amount
Updated On : 03 Jun 2024 | 9:30 AM IST

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

Biden's efforts to reshape global supply chains gather pace in Asia
Updated On : 16 May 2024 | 9:01 AM IST

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

Asian stocks slide, gold rises as Middle East crisis sparks safety rush
Updated On : 15 Apr 2024 | 9:59 AM IST

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

4 shocks pushed up prices, led to supply disruptions and price reactions
Updated On : 04 Apr 2024 | 5:02 PM IST

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 ...

Govt extends export benefits under the Rodtep scheme to SEZ units
Updated On : 08 Mar 2024 | 10:03 PM IST

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

TVS Supply Chain Solutions expands warehousing footprint in India
Updated On : 07 Mar 2024 | 6:10 PM IST

TVS Supply Chain Solutions inaugurates warehousing facility in TN's Hosur

TVS Supply Chain Solutions Ltd on Thursday inaugurated an ultra-modern multi-client warehousing facility in Hosur, Tamil Nadu, as part of its expansion in the domestic market. The new warehouse offers value-added solutions like automation and data analytics to improve client productivity, the company said. The latest warehouse facility will provide more than 1,200 jobs, of which 300 will be women employees in various roles like kitting and binning, among others, it said. With the addition of this 6.50 lakh square feet of space, the company's total warehousing capacity has increased to 21.85 million sq ft from 21.2 million sq ft of space, TVS Supply Chain Solutions said. Globally, TVS Supply Chain Solutions operates around 300 strategically located warehouses across five continents, covering over 27 million sq ft of warehousing space. "We have strategically positioned our global parts distribution centre in this new facility, which will serve as a hub for our global market," K N ..

TVS Supply Chain Solutions inaugurates warehousing facility in TN's Hosur
Updated On : 07 Mar 2024 | 4:16 PM IST

Must build deep national strengths for transition to leading power: EAM

External Affairs Minister S Jaishankar on Thursday said India in the next 25 years must build "deep national strengths" that will drive its transition towards a developed economy and leading power. Flagging the dangers of dependence on a limited number of suppliers, challenges of technology, and "weaponization of market dominance," he asserted that the country's goals and ambitions can not be determined by "the goodwill of others." The minister's recorded video message was played during the inaugural event of the 5th Asia Economic Dialogue, a three-day annual geo-economics conference organised jointly by the Ministry of External Affairs and Pune International Centre. The theme of the conference this year is 'Geo-economic challenges in the era of flux.' Jaishankar said the present geo-economic challenges fall in three categories -- supply chain challenge, technology challenge, and the challenge of "over-concentration stemming from the nature of globalisation". Whether it is finishe

Must build deep national strengths for transition to leading power: EAM
Updated On : 29 Feb 2024 | 10:54 PM IST

Indian cos explore logistics options amid Red Sea supply chain disruptions

Companies are exploring alternative logistics options, including finding different shipping routes to minimise supply chain disruptions as the Red Sea crisis enters its fourth month

Indian cos explore logistics options amid Red Sea supply chain disruptions
Updated On : 29 Feb 2024 | 12:26 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

No supply chain concerns, 40% biz expected from domestic market: GFL CEO

GFL discusses the company's plans to deploy their existing backend supply chain of flourspar and its Moroccan mines with new age technology to develop modern battery solutions

No supply chain concerns, 40% biz expected from domestic market: GFL CEO
Updated On : 11 Feb 2024 | 6:34 PM IST

TVS SCS Q3 results: Company posts consolidated net profit of Rs 10 crore

The company's revenue from operations was also down by 6.4 per cent during the quarter under review to Rs 2,221.8 crore, compared to Rs 2,373.4 crore during the Q3 of FY23

TVS SCS Q3 results: Company posts consolidated net profit of Rs 10 crore
Updated On : 05 Feb 2024 | 9:59 PM IST

Landmark Indo-Pacific supply chain pact to come into force on February 24

The US on Thursday announced that a landmark agreement on supply chain resilience under the Indo-Pacific economic framework involving 14 partner nations, including India, Japan and Australia, will come into force on February 24. US Commerce Secretary Gina Raimondo said the pact will facilitate a collaborative approach to strengthen supply chains and prevent potential disruptions. The US Department of Commerce said the Indo-Pacific Economic Framework for Prosperity (IPEF) agreement relating to supply chain resilience will enter into force on February 24. The agreement is aimed at coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and inclusive supply chains. "This is a critical step in bringing the landmark, first-of-its kind agreement into action and promoting coordination among the IPEF partners on building resilient, efficient, productive, sustainable, transparent, diversified, secure, fair, and

Landmark Indo-Pacific supply chain pact to come into force on February 24
Updated On : 01 Feb 2024 | 3:44 PM IST