Mahindra Logistics reports Q1FY25 net loss of ₹9.3 crore
Cargo Insights
by Cargo Insights
3h ago
MLL sees 10 percent revenue growth despite net loss increase in Q1FY25. Mahindra Logistics (MLL) reported a net loss of ₹9.3 crore for Q1FY25, up from ₹8.6 crore in Q1FY24. However, revenue from operations rose by 10 percent to ₹1,420 crore, compared to ₹1,293 crore in the same period last year. The company noted moderate demand, with contract logistics seeing a 9 percent YoY revenue growth. Freight forwarding business increased by 12 percent QoQ due to rising demand for inbound ocean cargo. The express business improved 2 percent YoY in revenue and reduced PAT losses by 16 percent YoY throug ..read more
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Union Budget 2024: India unveils e-commerce export hubs & major infrastructure investments
Cargo Insights
by Cargo Insights
3h ago
Finance Minister Nirmala Sitharaman’s Union Budget 2024 outlines a groundbreaking strategy to boost India’s e-commerce sector. Finance Minister Nirmala Sitharaman’s Union Budget 2024 has unveiled ambitious plans to enhance India’s logistics and export capabilities through the creation of dedicated e-commerce export hubs. These hubs are designed to streamline export clearances, warehousing, customs procedures, returns processing, and product handling. Functioning as bonded zones, they aim to significantly reduce re-imports and will be developed in collaboration with the private sector. The ini ..read more
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India’s garment exports lag due to high duties and complex procedures
Cargo Insights
by Cargo Insights
3h ago
India’s garment sector struggles with high import duties and complex customs, impacting export growth. India’s labour-intensive garment sector has been losing ground to competitors like Vietnam and Bangladesh, with exports in 2023-24 at $14.5 billion, down from $15 billion in 2013-14. A recent report by the Global Trade Research Initiative (GTRI) highlights that high duties and complex trade procedures, rather than competitors’ strengths, are the primary culprits behind this decline. While garment exports from Vietnam and Bangladesh grew 82 percent and 70 percent, respectively, between 2013 a ..read more
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Budget 2024: Industry Insights & Outlook
Cargo Insights
by Cargo Insights
3h ago
As India charts its economic course, we delve into the implications of the Union budget for 2024. Join us as we explore expert perspectives, trends, and forecasts that shape our nation’s financial landscape. Rajesh Mehta, Executive Director, Liladhar Pasoo Group This budget is decidedly growth-oriented and strategically positions India to realise its ambitions of becoming a global manufacturing hub and a $5 trillion economy. It emphasises infrastructure development, tax simplification, and skill enhancement—three critical areas that will enhance India’s alignment with the global value chain. B ..read more
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JNPA receives approval for agricultural processing facility
Cargo Insights
by Cargo Insights
3h ago
JNPA gets green light for ₹285 crore agricultural processing and storage facility. The Jawaharlal Nehru Port Authority (JNPA) has secured approval from Union Minister Sarbananda Sonowal for a groundbreaking agricultural processing and storage facility. This innovative project, estimated at ₹285 crore, will operate under a Public-Private Partnership (PPP) and Design-Build-Finance-Operate-Transfer (DBFOT) model, marking a significant first for India’s ports. Unmesh Sharad Wagh, JNPA Chairman, highlighted that this initiative aligns with the ministry’s ‘port-led development’ and JNPA’s ‘Port led ..read more
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Andhra Ministers advocate for Polavaram project completion in meeting with Jal Shakti Minister
Cargo Insights
by Cargo Insights
3h ago
Andhra ministers stress Central support for timely Polavaram project completion in meeting with Union Minister. Civil Aviation Minister RamMohan Naidu, along with Andhra Pradesh Irrigation Minister Ramanaidu and MoS Steel Srinivas Verma, met with Union Minister for Jal Shakti C.R. Patil to discuss the Polavaram project. Minister RamMohan Naidu emphasised the critical need for Central Government support to ensure the project’s timely completion, expressing confidence in the combined leadership of Andhra Pradesh Chief Minister N. Chandrababu Naidu and Prime Minister Narendra Modi ..read more
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DHL and Envision partner for sustainable logistics and energy innovations
Cargo Insights
by Cargo Insights
3h ago
DHL and Envision collaborate on logistics, SAF, green energy, and net-zero industrial parks. DHL Group and Envision Group have signed a Strategic Partnership Agreement aimed at advancing sustainable logistics and energy solutions. The collaboration will focus on four main areas: logistics solutions, Sustainable Aviation Fuel (SAF), green energy, and the development of a “Net Zero Industrial & Logistic Park.” Under this agreement, Envision will provide DHL with SAF, crucial for reducing carbon emissions in air transportation. DHL aims to increase its SAF mix to 30 percent by 2030, leveragi ..read more
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CMA CGM and Google partner to accelerate AI integration in global operations
Cargo Insights
by Cargo Insights
8h ago
CMA CGM and Google collaborate to enhance AI across CMA CGM’s worldwide operations. CMA CGM, a global leader in sea, land, air, and logistics solutions, and Google have announced a partnership to accelerate the integration of artificial intelligence (AI) across CMA CGM’s global operations. “By leveraging Google’s proven AI solutions and insights from experts, CMA CGM will help empower its employees’ decision-making. Every programme and tool developed within the partnership will be designed to assist users in their decision-making processes across several key workflows,” says a release from Go ..read more
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Amazon eyes Swiggy’s Instamart for quick commerce expansion in India
Cargo Insights
by Cargo Insights
8h ago
Amazon in talks with Swiggy to acquire Instamart, aiming to boost quick commerce in India. Amazon is in advanced discussions with Swiggy to explore potential deals involving Swiggy’s quick commerce division, Instamart. This strategic move highlights Amazon’s ambition to bolster its presence in India’s burgeoning quick commerce market, intensifying its competition with Flipkart. The talks revolve around Amazon acquiring a stake in Swiggy’s pre-IPO placement or proposing a buyout of Instamart. This initiative underscores Amazon’s focus on quick commerce, an area it has been exploring for severa ..read more
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Air France KLM Martinair Cargo and IndiGo CarGo sign extensive interline agreement
Cargo Insights
by Cargo Insights
8h ago
AFKLMP Cargo and IndiGo CarGo establish a robust cargo partnership effective July 16, 2024. Air France KLM Martinair Cargo (AFKLMP) and IndiGo CarGo have announced the signing of an extensive Interline Agreement to connect their expansive networks, marking the first step in a significant cargo partnership. This Special Prorate Agreement became effective on July 16, 2024. The agreement was formalised during a meeting at IndiGo’s headquarters, where both parties also discussed ways to strengthen their collaboration and explore future cooperation opportunities. Mark Sutch, Chief Commercial Offic ..read more
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