Page 9 - Supply Chain

G-7 nations back strong supply chains for energy, food despite tensions

Trade and economy officials from the Group of Seven wealthy democracies strengthened their pledge on Sunday to work together to ensure smooth supply chains for essentials like energy and food despite global uncertainties. The nations promised to maintain a free and fair trading system based on the rule of law and enhancing economic resilience and economic security, officials said in a joint statement. Foreign Minister Yoko Kamikawa, who co-hosted the two-day event in the western city of Osaka, pointed to Russia's invasion of Ukraine and the Israel-Hamas war as the latest threats to stable energy and food supplies. We nations that share important values have a position of responsibility amid growing uncertainties, she said in closing the meeting, stressing democracy, inclusiveness and human rights. Worries are growing among developed nations about maintaining a stable supply of computer chips as well as essential minerals, like lithium, which are critical these days amid the demand

A supply-side dilemma

We need to stop obsessing over consumption, the real problem is supply

No decision yet on India joining trade pillar of IPEF, says official

The government has not yet taken any decision on the issue of India joining the trade pillar of the Indo-Pacific Economic Framework (IPEF), a 14-member grouping, a senior official said. The IPEF was launched jointly by the US and other partner countries of the Indo-Pacific region on May 23 in Tokyo. The 14 IPEF partners represent 40 per cent of global GDP and 28 per cent of global goods and services trade. The framework is structured around four pillars relating to trade, supply chains, clean economy, and fair economy (issues like tax and anti-corruption). India has joined the three pillars except the trade part. The member countries are holding negotiations to sign separate agreements on these subjects. Talks are already concluded on the supply chain resilience and the process for domestic approval in India for this agreement is underway. The member nations are holding talks on clean economy, and fair economy pillars under the sixth negotiating round, which is undergoing in Kuala

Indian Bank partners with Tata Motors arms to offer supply-chain financing

Public sector Indian Bank on Friday said it has partnered with subsidiaries of Tata Motors Ltd to offer inventory financing solutions through its digital supply-chain finance platform. As part of the collaboration with Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, the Indian Bank would offer -- inventory financing solutions -- to the authorised dealers for the electric and passenger vehicles division. Indian Bank Executive Director Ashutosh Choudhury said, "We are delighted to partner with Tata Motors, a leader in the automotive sector. Indian Bank with 5,819 branches and trusted by over 10 crore customers is well positioned to provide solutions to Tata Motors Ltd in its rapid growth journey." Indian Bank Supply-Chain finance would provide easy access to working capital finance to the dealers of Tata Motors Ltd at favorable terms for driving their business growth, he said. "We are extremely elated to associate with Indian Bank for this financing ...

Amazon's expansion into logistics services could unlock $100 bn in revenue

Analysts see the strategy echoing what the firm achieved with its cloud business, when it built Amazon Web Services to serve its own needs before opening the platform to third-party merchants

India can contribute towards strengthening, diversifying supply chains: FM

Finance Minister Nirmala Sitharaman on Wednesday said India is well placed to contribute towards strengthening and diversifying supply chains. Speaking at the launch of 'Partnership for Resilient and Inclusive Supply-chain Enhancement' on the sidelines of the World Bank-IMF Annual Meetings in Marrakech, Morocco, Sitharaman said India is undertaking some of the most robust climate actions through its Nationally Determined Contributions (NDCs). This includes an ambitious programme for a transition to clean energy and the RISE partnership is completely in sync with India's domestic policy of prioritising Clean Energy. Highlighting the hard-earned consensus by the G20 India Presidency on the need to rapidly scale up renewable energy capacity, the finance minister said the Global Biofuels Alliance initiative launched by Prime Minister Narendra Modi, on the sidelines of the G20 Leaders Summit in New Delhi, is a positive step towards promoting global cooperation on sustainable biofuels and

India, Saudi Arabia sign MoU on grid connection and green hydrogen

Singh urged the MENA countries to join the Global Biofuel Alliance to bolster international cooperation in sustainable biofuels and fully harness the potential of the Alliance

Taiwan looks forward to joining hands with India: Representative Ger

The Taiwanese representative said: "In addition to our Chennai office in 2012, I am pleased to announce that our 3rd mission, Taipei Economic and Cultural Center in Mumbai, will open early next year"

P&G India announces Rs 300 cr fund for startups for supply chain solutions

FMCG maker Procter & Gamble India on Thursday announced a Rs 300 crore fund to collaborate with external partners and innovators for co-creating solutions for a modern supply chain ecosystem. P&G Supply Chain Catalyst Fund will provide an opportunity to startups and innovators to collaborate with Procter & Gamble (P&G) India on customising business solutions, accelerating its journey towards Supply 3.0 initiatives, said a statement from the company. This is a part of Rs 1,800 crore committed in business solutions through vGROW, in which the maker of brands like Gillette, Whisper, Vicks is investing in small businesses, individuals and large organisations offering innovative solutions. "The announcement is in line with the Prime Minister's Gati Shakti initiative, which is an endeavour towards multi-modal connectivity in the country that will enhance seamless movement of goods and services through targeted interventions," the statement said. Commenting on the ...

Panama Canal drought and how it is impacting global trade, supply chain

The Panama Canal Authority has warned that water restrictions may continue into 2024, making it important for shipowners to create a contingency plan that does not further disrupt global supply chain

IIFL Fintech Fund buys 51% in supply chain platform Xtracap for Rs 25 cr

IIFL Group's early-stage investment vehicle IIFL Fintech Fund has invested a reported Rs 25 crore for a 51 per cent stake in a supply-chain finance platform, Xtracap Fintech. This is the fund's first investment in a supply chain finance firm, the company said in a statement without disclosing any financial details of the transaction. But sources told PTI that they have picked up 51 per cent for Rs 25 crore, valuing Xtracap at Rs 50 crore. Xtracap offers e-invoice financing that allows businesses to unlock value of their invoices in real-time, providing instant liquidity. Its dual app serves both downstream and upstream channel financing needs. By using invoices and receivables as collateral, financing facility is made available. IIFL Fintech Fund was launched in August 2021 with a corpus of Rs 210 crore and has since invested in Trendlyne, Leegality, Finbox, Datasutram, Multipl, Finarkein, Trustcheckr, Finvu, Insurance Samadhan and Easyrewardz.

Witnessing trend of rising outsourcing of supply chain activities: TVS SCS

TVS Supply Chain Solutions was witnessing a trend of increasing outsourcing of supply chain activities across industries and a strong pipeline of new opportunities, a top official said. The city-based firm had registered a consolidated net loss for the April-June 2023 quarter at Rs 65.3 crore as compared to a net loss at Rs 1.8 crore during the corresponding quarter of last year. Revenue from operations during the quarter under review stood at Rs 2,342.4 crore from Rs 2,675.5 crore registered in the same period of last year. The profitability showed a decline due to higher interest cost and a one-time exceptional expense of Rs 25.57 crore during the quarter, a company statement here said. The Integrated Supply Chain Solutions business performance was driven by a very strong growth momentum with the segment reporting a revenue of Rs 1,318.8 crore during the April-June 2023 quarter from Rs 1,097.7 crore registered in the same period of last year. The ISCS segment revenue grew in Ind

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 .