Multinationals Bullish on Warehousing in India

Due to growth in both the consumer sector and e-commerce in India, overseas investors and real estate players are increasingly investing in warehousing and logistics.

Key players such as Singapore’s Ascendas-Singbridge, Assetz Property Group, Ohio-based Logos Realty, Canada Pension Plan Investment Board and the Everstone Group, among others, have made major investments in this segment.

Some quotes from senior management:

“We are seeing extensive demand from our existing and new customers for institutional grade logistics facilities in the region,” said Trent Iliffe, joint managing director, Logos.

“We have been in India for over two decades, developing iconic business and IT Parks… Entering the industrial and logistics sector is a natural progression,” Miguel Ko, group CEO Ascendas-Singbridge said.

Srinivas N, managing director, Industrial Services, of Chicago-based JLL India, said, “Thanks to fresh investments, supply and interest in this sector, the Indian logistics industry is set to reach the next level.”

“It is a good time for developers/investors to evaluate this sector to add to quality organized warehousing infrastructure keeping in perspective the latent demand and consolidation/expansion expected post-GST roll out,” said Shyam Arumugam, associate director, Office Services, of Canada-based Colliers International India.

Amazon and DHL announced plans to expand their warehouses, reports BusinessLine.

warehouse

August 21, 2017   No Comments

OECD: India at the Top of Governmental Confidence League

According to the latest edition of the  Paris-based Organization for Economic Cooperation and Development‘s Government at a Glance 2017 report, India, with a citizen support of 73%, is at the very top of the governmental confidence league. Canada ranks second with 62%.

Forbes says: Trust in government is vitally important. It serves as a driving force for a country’s economic development, makes governmental decisions more effective and leads to greater compliance with regulations and the tax system.

Russia and Turkey tied for the third spot at 58%; the U.S. scored 30%; and Greece is at the bottom with 13%.

Parliament House, india

Parliament House, India

 

 

July 15, 2017   No Comments

New Jersey based ATCS Sets Up Innovation Lab in India

New Jersey-based IT solutions company Advanced Technology Consulting Service (ATCS) expanded its operations in India by recruiting new staff and setting up its first Innovation Lab (I-Lab) in Jaipur, in the western state of Rajasthan. The company also opened a new office in Bangalore.

“The I-Lab not only serves as a functional space for approaching ideas and concepts in an alternative setting but also embeds a spirit in our team that ATCS is expected to think differently, creating solutions beyond one’s peripheral views,” said Jason Castellani, partner at ATCS.

The company provides strategic guidance to and implements software solutions for several Fortune 500 companies, and has offices in China, Germany and Canada, reports NDTV Profit.

Manish Krishnan, Global CEO, ATCS, said, “For our customers, innovation is a big drive. Having such a lab in our India office helps us in delivering more inventive ideas to our clients.”

ATCS Press Conference in Jaipur

ATCS Press Conference in Jaipur

July 13, 2017   No Comments

Indian Oil Corporation to Buy American Crude Oil

State-owned Indian Oil Corporation floated its first tender to purchase high-sulfur, or sour, crude from North America as it seeks to diversify imports.

BusinessLine reports that India’s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States, and Western Canadian Select from Canada. Sellers are to deliver the oil in late September or early October.

Indian Oil Corporation

Indian refiners consider these heavy, high-sulfur grades as feedstocks. After effecting modifications at their plants, these types of crude grades are easier to process and they typically sell at a lower cost compared to other oil types. The U.S. could become an alternative source for the Indian companies for these grades.

July 11, 2017   No Comments

ITU Accepts India’s Proposal on Rural 5G

At the International Telecommunication Union – Radio Communications‘ terrestrial radio systems (WP5D) meeting held in Canada, the Indian delegation championed the mandatory adoption of a configuration called Low Mobility Large Cell (LMLC) for 5G technology. The proposal has been approved by the global telecom organization.

ITU Logo

This configuration focuses on low mobility users in a set of villages and farms spread over a large area and is likely to become a game changer. New radio systems will need to incorporate this criterion for qualifying as 5G.

Noting that only 13 percent of India’s rural population had access to Internet, the Cellular Operators Association of India said, “Connecting rural India with high-speed mobile broadband will become a reality soon.” By 2020, the National Optical Fiber Network will reach all the 250,000 villages in the country, the Association added.

June 23, 2017   No Comments