LOGISTICS INFRASTRUCTURE
Bright future for air cargo sector; need to ensure faster turnaround time: Official
The Indian government is working on improving processes and ensuring faster turnaround time in the air cargo sector to tap its potential. The government is also developing logistics hubs to improve the ease of doing business. The air cargo sector accounts for nearly 10% of domestic carriers' revenues and is estimated to grow to USD 16.37 billion by 2027.
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
Union Budget 2024 measures can upgrade India's supply chain in its bid to match up with China
BUDGET EXPECTATION: Finance Minister Nirmala Sitharaman, through Budget 2024, may introduce measures to strengthen India’s supply chain and manufacturing sector. This aligns with India’s strategic pivot to become a global manufacturing alternative to China. Under Prime Minister Modi's leadership, India has gained traction with infrastructure and logistics improvements, drawing multinational interest.
Warehouse operators take shine to solar power, rework logistics
The move towards renewable energy is not just a response to global environmental concerns but also a strategic business decision for many warehouse operators seeking to reduce operational costs and enhance sustainability.
Trade routes in turmoil: Why Indian exports are piling up in Colombo and Singapore
About 75% of India's transshipped cargo is handled at ports outside India, and the major trade routes connecting India to various destinations, including Colombo, Singapore, and Port Klang, are currently experiencing strain.
JSW Infrastructure to acquire 70.4% stake in Navkar Corp for Rs 1,012 cr
JSW Infrastructure on Thursday said it will acquire 70.37 per cent shareholding in Navkar Corporation for around Rs 1,012 crore, paving the way for its foray into the logistics industry.
PM Gati Shakti scheme is transforming India's infrastructure: Morgan Stanley
In a recent report, Morgan Stanley has lauded India's PM Gati Shakti scheme, highlighting its significant impact on infrastructure development. The report emphasizes India's robust increase in infrastructure investment, projected to rise from 5.3% to 6.5% of GDP by F29, driven by a strong 15.3% CAGR. This growth is expected to total USD 1.45 trillion over five years, fostering high productive growth and enhancing investment rates. PM Gati Shakti integrates 16 ministries for coordinated infrastructure planning, focusing on multi-modal connectivity and logistics efficiency, which has shown tangible results in project completion and sectoral development.
CJ Darcl leases 1.25 lakh square feet space at Narasapura IndoSpace park
This strategic move is aimed at enhancing CJ Darcl's warehouse and distribution management capabilities in South India, allowing the company to provide tailored end-to-end logistics solutions to its clients.
VRL Logistics outlook: Should you buy this stock? Know why analysts are bullish on this stock
VRL Logistics: Analysts are confident about VRL Logistics due to its aggressive expansion and investment plans, and the promising outlook of the logistics industry. The buoyant prospects of logistics industry will continue to support the company’s growth. The company has multiple differentiators to sustain its growth momentum. An Emkay May 2024 report states that its business model will help reap benefits of operating leverage due to owned assets and branch expansion plans.
Global supply chain shift: Has India finally arrived?
Global supply lines are shifting for more resilience. Geopolitical developments put India at an advantage. Will demographic dividend finally create value for India?
Stock Radar: Why VRL Logistics is a good buy on dips stock in the runup to final Budget: Kiran Jani
VRL Logistics Ltd, a significant player in the logistics sector, faced a 36% wealth destruction in 6 months, dropping from around Rs 800 to approximately Rs 510 in June 2024.
Cabinet okays paddy MSP hike, green VGF and a ₹2,870-cr revamp of Varanasi international airport
The Union cabinet, under Prime Minister Narendra Modi's leadership, approved significant decisions including a 5-11% increase in Minimum Support Price (MSP) for kharif crops, construction of a ₹76,220-crore port in Vadhavan, Maharashtra, and a revamp of Varanasi international airport. Viability Gap Funding (VGF) for offshore wind energy projects was also sanctioned, marking the beginning of the new government's 100-day agenda.
Messe Stuttgart India, Indian Navy collaborate to modernise pan-India logistics infrastructure
Messe Stuttgart India partners with Indian Navy to enhance national logistics infrastructure by connecting with LogiMAT India exhibitors, facilitating solutions to Navy's logistics needs. The Indian Navy plans to engage with leading exhibiting organisations to adopt strategic solutions. After the success of LogiMAT India 2024, preparations are underway for LogiMAT India 2025, aiming for an impactful event with over 200 exhibitors and 15,000+ visitors, driving innovation in India's logistics sector.
ESR acquires additional 27 acres in Chennai’s Oragadam to expand industrial park
ESR Group, focusing on real estate services and investment in the Asia Pacific region, has expanded its industrial and logistics park in Chennai’s Oragadam by acquiring an additional 27 acres of land. This brings the total area of ESR Oragadam Industrial & Logistics Park to 107 acres, with plans to develop 2.5 million sq ft. The Hong Kong-listed company will invest over Rs 276 crores for construction, including land costs.
Penna buy to cut logistics costs for Adani Cements: CFO Vinod Bahety
Adani Cements uses the sea route for some transportation at Sanghi Industries and Ambuja Cements. "The plan for sea logistics will mature now, after this acquisition. You will see a much more impactful progression on sea logistics in 6-12 months time," said Vinod Bahety.
Shortage of long-haul truck drivers hits logistics industry
Low pay scales, harassment by highway authorities and cops, adverse weather conditions, risk of accidents, lack of benefits at work, lack of hygienic restrooms and night parking facilities are some of the reasons for high attrition that is also dissuading many from the new generation to join the profession.
PM Gati Shakti, National logistics policy driving cold chain market growth
At the FICCI-Cold Chain and Logistics Summit on Wednesday, Ahirwar said that the gaps in physical infrastructure such as bad roads and inefficient ports are dampening the growth of the logistics sector, and these schemes are addressing those gaps.
A Mumbai firm finds a way to reduce container turnaround time from 34 days to 2 days
Backed by Zerodha founders, MatchLog Solutions has found an answer to an issue that has haunted transporters for years.
Chabahar Port development to help India expand trade routes; need to ensure necessary infra: GTRI
India has signed a 10-year contract to operate the strategic Iranian port of Chabahar, which will help India enhance its logistical capabilities and expand its trade routes to Central Asia. The port, which is Iran's only ocean port, is strategically located about 170 km west of Pakistan's Gwadar Port and offers an alternative maritime route to the congested Strait of Hormuz. The port is an integral component of the International North-South Transport Corridor (INSTC), a 7,200-km multi-modal transportation route connecting India with Iran, Azerbaijan, Russia, Central Asia, and Europe.
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