Indian firms ready fleets for logistics takeoff
By C. Jacob Kuncheria and Rakesh Sharma
NEW DELHI (Reuters) - Indian logistics companies are acquiring cargo planes, and foreign players are trooping afield, as strong growth in Asia's third largest economy spurs demand for speedy movement of goods.
Transporters and couriers are trying to keep up with the robust pace of organised retail, growing at 25 percent annually, and manufacturing, which grew 9.7 percent in April-Sept from a year ago.
"India ... promises to rival the largest markets in the world before long," said Oliver Evans, chief cargo officer at Swiss International Air Lines, in a statement earlier this month.
From next week the airlines is going to add 18 tonnes to its 22 tonnes daily cargo capacity to-and-from India.
TAKING TO AIR
The country could have three dedicated cargo airlines by mid-2008, a study published by the Centre for Asia Pacific Aviation (CAPA) and industry body FICCI earlier this year, said.
Anticipating opportunities, companies are queueing up for the action. Continued...
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