Nearly double-digit fall in commercial vehicle sales in Q1

SIAM’s first quarter, 2019-20 data has made it clear that sales drop across the automobile spectrum has become acute in the recent months. And this also includes the commercial vehicle where the drop has been close to 10 percent.  According to latest data released by the industry body, the overall Commercial Vehicles segment registered a decline of (-) 9.53 percent in April-June 2019 as compared to the same period last year. Medium & Heavy Commercial Vehicles (M&HCVs) declined by (-) 16.60 percent and Light Commercial Vehicles declined by (-) 5.06…

Read More

CONCOR- BHEL come together to set up multi-modal logistics unit

In a significant recent development, two major PSUs – Container Corporation of India (CONCOR) and Bharat Heavy Electricals Limited (BHEL) – signed MoU to jointly set up a rail based logistics terminal at Haridwar.  As part of the agreement, a joint working group BHELCON will be formed with equal financial participation by CONCOR and BHEL. The deal marks BHEL’s entry into a new strategic area.  “Besides meeting BHEL’s own requirements, this terminal would cater to the large number of industries located at neighbouring SIIDCUL as well as other nearby industrial…

Read More

India’s inland waterways network facilitates trade between neighbouring countries

In a first ever movement of its kind, Mansukh Mandaviya, Minister of State for Shipping (Independent Charge) and Chemical & Fertilizers, recently  digitally  flagged-off a ship of the Inland Waterways Authority of India, carrying stone from Bhutan to be delivered in Bangladesh. While connecting the two countries with India as a transit, the ship sailed over river Brahmaputra and the Indo Bangladesh Protocol Route. The stone aggregates were transported by trucks from Phuentsholing in Bhutan which is 160 KMs from IWAI’s Dhubri jetty in Assam. Till now, Bhutan has been…

Read More

Rivigo raises $ 65 Mn from Warburg Pincus and SAIF Partners

Technology-enabled logistics firm Rivigo raised a funding of USD 65 Mn in the ongoing series E round led by existing investors Warburg Pincus and SAIF Partners. Rivigo has significantly improved its financial metrics across all businesses and aims to be profitable by the end of this financial year. Continuing the positive momentum, Rivigo recently launched path-breaking National Freight Index (NFI) to bring transparency to the largely unorganized logistics sector. Started in 2014, Gurugram based startup has laid a strong foundation to build the future of logistics through its innovative ‘Relay…

Read More

Milkbasket makes second acquisition this year

Continuing with its aggressive scale building drive through acquisitions, online grocery delivery startup Milkbasket has announced its second acquisition since March this year. Last week, it announced acquisition of Bengaluru-based PSR Supply chain for an undisclosed amount. Earlier this year, Milkbasket had bought Noida-based e-commerce platform Veggie which specializes in selling organic fruits and vegetables. “The acquisition of PSR Supply Chain helps us in further strengthening our customer base and offerings in Bangalore. While we are growing phenomenally on our own, we are always on the lookout for strategic acquisitions…

Read More

B2BAdda joins hands with MOS to reach out to Rural India

 B2BAdda.com, India’s first hybrid e-distribution platform, has announced a strategic marketing move in collaboration with MOS, a retail tech platform focused on empowering the unorganised retailers of India. The objective of this association is to increase the penetration of Detel’s range of feature phones, Smart accessories and TVs, and percolate them down to Tier – 4,5 and 6 cities by reinforcing Detel’s mission of #connecting40croreindians. With this exclusive partnership, Detel targets one of the well acknowledged player with a strong network of 60,000 mom and pop stores spread throughout the…

Read More

Wind-energy firm Vestas plans assembly factory in India

Global wind energy major Vestas has announced plans to establish a new hub assembly factory in Chennai. The new factory will combine Vestas’ two existing facilities in the state which is slated to optimise its India-centric production capacity. “By building this expanded production facility, we will serve our customers’ needs in one of our key markets even better and generate hundreds of local jobs, while also improve our global manufacturing footprint and increase our export capabilities from India with the aim of making it a global renewable energy manufacturing hub”, says…

Read More

NHAI commences Rs.75,000 crore market borrowing programme

While addressing a seminar organised by PHDCCI in Delhi recently, Nagendra Nath Sinha ,Chairman, National Highways Authority of India (NHAI), indicated that the Authority is working towards raising Rs.75,000 crore through market borrowing channels this year to support the projects of roads and highways.  Sinha spelt out an indicative plan hinting funds to be raised through multiple channels including LIC, debt funds, pension funds and sovereign funds. He also mentioned that the Authority will look at sourcing funds from Infrastructure Investment Trusts, national Investment and Infrastructure Fund and even Special…

Read More

Holisol launches AI powered supply chain platform

Delhi headquartered Holisol Logistics in partnership with Cogneau Systems has launched ‘Verdis’ (Virtual Data ScientistTM), an Artificial Intelligence platform focused on the supply chain function. Verdis, has been built to operate even in the most complex functional environments such as those present in retail and automotive industries and has the capabilities to help organisations balance between the twin challenges of responsiveness and efficiency by bringing in higher visibility, predictability and control over their key performance parameters. Rahul Dogar, Co-founder of Holisol Logistics, said, ‘Verdis is a powerful, AI driven supply chain…

Read More

Apple India former country manager launches General Trade platform

 Sanjay Kaul, former Country Manager – Apple India, has announced the launch of Sofyx, a social commerce platform for general traders dealing in smartphones and accessories. Once celebrated for building two key smartphone businesses from scratch, Kaul is now dedicating himself to making technology accessible & affordable for small retailers. In the venture, Kaul is supported by Co-founder Mukesh Kachroo, former Chief Technology Officer – Gain Capital Group, USA. Meanwhile the platform enables business networking, engagement, real-time feedback, and community building amongst the stakeholders. Besides, it helps drive business transactions between various partners. Sofyx also…

Read More