The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, outlines a clear path for making India a Viksit Bharat by 2047. Balancing growth imperatives with fiscal consolidation, the budget sets a fiscal deficit target of 4.9% of GDP for 2024-25, providing a buffer for potential geopolitical uncertainties and global economic challenges. This prudent…
A new strategic equity partnership between a global logistics leader and a prominent Turkish port operator has been established, aiming to elevate Turkey’s role in global trade by creating a new international logistics hub on the Marmara Sea. Following regulatory approval from the Turkish Competition Authority, the logistics provider acquired a 58% stake in the…
India’s Union Budget for 2024-25 is set to make significant strides in transforming the country’s logistics and supply chain sectors into global leaders. By focusing on substantial infrastructure investments, embracing technological advancements, and supporting small and medium-sized enterprises (SMEs), the budget outlines a clear path toward a more efficient and competitive logistics network. Key aspects…
Manohar International Airport in north Goa has achieved a major milestone in logistics by successfully handling its first freighter aircraft, which transported 22 tons of goods. This accomplishment underscores the airport’s growing capacity to manage large-scale freight operations effectively. The A321 freighter aircraft, operated by an international air charter service and a Turkish airline, arrived…
The Indonesian government is working to lower logistics costs from 14.29 percent to 8 percent of the Gross Domestic Product (GDP) in an effort to promote more efficient and competitive economic growth. This announcement was made by the Minister of Transportation during a National Seminar focused on “Improving Logistics Performance in Indonesia: Reflections, Challenges, and…
A new player in the AI robotics sector has emerged with substantial financial backing, promising to revolutionize warehouse logistics. This innovative robotics company, specializing in warehouse automation, has secured $78 million across three funding rounds, including a significant Series B. While the company has not disclosed its valuation, the financial support underscores the growing interest…
A notable development in the logistics sector has emerged with the creation of a new logistics hub in Turkey, following regulatory approval from the Turkish Competition Authority. This newly formed entity, resulting from a merger, aims to meet the region’s increasing demand for advanced logistics solutions, enhance Turkey’s export and import volumes, create new industry…
A major player in the logistics industry has made a strategic move to enhance its global footprint through the acquisition of a leading freight forwarder. This acquisition is set to expand the company’s reach in key markets, including China, India, the US, and the GCC, while offering integrated logistics solutions in the UAE and leveraging…
The warehousing and logistics sector is experiencing a significant boom, driven by investments in construction projects nationwide. This surge is largely fueled by the expansion of e-commerce and improvements to infrastructure, including distribution centers, transit links, and last-mile facilities. The COVID-19 pandemic highlighted the critical need for robust logistics networks, leading to increased demand for…
A prominent logistics company has reported a 55% decline in standalone profit, amounting to ₹10.15 crore for the April-June 2024 quarter. This profit decrease reflects higher initial expenses, increased manpower costs, and elevated warehouse leasing fees. However, the firm’s revenue showed a robust 10% increase, climbing to ₹1,156.66 crore from ₹1,050.92 crore in the same…