In keeping with his commitment to nation-building and fostering a conducive atmosphere for the fruitful public, private and academic partnerships, Piyush Goyal, Hon’ble Minister of Commerce & Industry, Government of India, inaugurated the Centre of Excellence in Logistics and Supply Chain Management at the National Institute of Industrial Engineering (NITIE) on Thursday, 23rd September 2021. While congratulating NITIE for this initiative and reminiscing about his past association with the institute when his father was a visiting faculty there, Piyush Goyal, Hon’ble Minister of Commerce & Industry, Government of India, highlighted the tremendous scope of global business supply chains in driving the nation’s economy. He urged all the students and faculty members to take into consideration the importance of efficiency and the geographic spread of industries and factories today, while committing to drive India’s progress – not just for themselves but also for the marginalised and underprivileged sections of society.

The Third-Party Logistics (3PL) sector in India is set to grow phenomenally along with its key growth drivers including E-commerce, digitization, and infrastructure modernization. According to the recent report unveiled by Technavio, a leading global technology research and advisory company, the Indian 3PL market is set to grow by $10.74 billion at a CAGR of 8 per cent during 2021-2025. Mordor Intelligence, another study puts the growth of Indian 3PL at 11 per cent during the same forecast period. The global 3PL market accounted for $1027.71 billion in 2019, and is expected to reach $1,789.94 billion by 2027 registering a CAGR of 7.1 per cent from 2020 to 2027. It is noteworthy that the Asia-Pacific (APAC) region claimed majority share in the global 3PL market in 2019. While, the Indian 3PL market remains to display its promise with the introduction of recent tax reforms, and the behavioural shifts in consumer patterns such as preference for online shopping, and other industry and government advantages to build capacity and infrastructure.

Blue Dart Express Limited, announced its General Price Increase (GPI), effective from January 1st 2022. The average shipment price increase will be 9.6% as compared to 2021, dependant on the shipping profile. Blue Dart prides itself on its future-ready solutions and has ensured that all its customers are provided with exceptional service quality despite the pandemic; an attribute that is benchmarked by the express logistics provider in the industry. In order to continue providing a resilient, reliable and efficient solution to customers, Blue Dart adjusts its prices annually, taking into account inflation, currency dynamics, fuel cost fluctuations, rising regulatory costs and other mandatory costs, such as expenses related to compliance for the workforce with enhanced security regulations across 35,000+ locations it services. Commenting on the announcement, Balfour Manuel, MD, Blue Dart said, “Over the last year and a half, innovation, adoption of technology, agility of our systems and our workforce, have all showcased the resiliency of the Blue Dart brand. Our persistent need to consistently update our systems and processes, has ensured that we remain one step ahead of the curve even during unprecedented times. We need to always trouble-shoot for potential challenges today in order to guarantee a satisfied customer at all times. Annual increase is more inflation related and enables us to sustain service quality and cost increases. At the same time, we also try to make a significant contribution to improving our environmental footprint and remain a Sustainable Provider of Choice.”

Etihad Airways, has received four honours at the Airline Economics Aviation 100 Deals of the Year Awards 2021 at a ceremony in Dubai. Etihad Group CEO Tony Douglas and Chief Financial Officer Adam Boukadida accepted the following awards on behalf of the airline: * Middle East & Africa CEO/Industry Leader of the Year 2021 – Tony Douglas, Group CEO, Etihad Airways * Middle East & Africa CFO of the Year 2021 – Adam Boukadida, CFO, Etihad Airways * Middle East & Africa Capital Markets Deal of the Year – Etihad USD $600M Sustainability-Linked Transition Sukuk and Liability Management of 2021 maturity * Middle East & Africa Sustainability Financing Deal of the Year – Sustainability Development Goal (SDG) Loan for Etihad Airways The annual accolades, now in its tenth year, pay tribute to the past year’s most outstanding companies, individuals and finance transactions in the commercial aviation industry; recognitions that are even more significant in the last year following a prolonged period of hardship resulting from the COVID-19 pandemic. Prior to the pandemic, Etihad was ahead of transformation targets set in 2017, having registered a 55% cumulative improvement in core results by end-of-year 2019. Despite operating losses resulting from COVID-19, the airline has continued to serve as an industry leader, targeting a complete turnaround by 2023 by optimising core business fundamentals, developing an industry-leading health and hygiene programme, Etihad Wellness, and engaging a holistic approach to sustainability by applying it to every aspect of its operations.

Worldwide Flight Services (WFS) has acquired IAS Logistics DFW, LLC (also known as Pinnacle Logistics), a leading provider of cargo handling services in the United States. The companies have not disclosed the financial details yet. Pinnacle Logistics is headquartered in Fort Worth, Texas,US, strengthening WFS’s cargo handling platform in the States. The company is focussed on specialist express cargo handling for e-commerce customers. WFS is also handling cargo in London, Liege, Amsterdam, France, Japan, Spain and more. Michael Simpson, WFS’s EVP Americas, commented, “The acquisition of Pinnacle Logistics enhances our core cargo and express cargo handling value proposition to customers, and Pinnacle’s established trucking logistics business further expands our service offering. Pinnacle’s people bring renowned experience and expertise, great service quality, and long-standing customer relationships with them to WFS. This acquisition is a strong strategic and cultural fit for WFS and we are delighted to welcome the Pinnacle team to WFS.”

The German container shipping company Hapag-Lloyd has announced the acquisition of a 30% stake in Container Terminal Wilhelmshaven (CTW) and 50% of the shares of Rail Terminal Wilhelmshaven (RTW) at the German container port JadeWeserPort. The Bremen-based terminal operator Eurogate continues to hold the remaining shares, while the parties have agreed to not disclose the purchase price. The contract closing is expected within a few months, while it is subject to approval by the antitrust authorities.

CargoBooking, also known as CargoBooking.aero is a global digital air cargo booking platform providing real time capacities and rates for airlines. Launched in August 2020, it also looks after the airlines’ General Sales Agents (GSAs) to deliver instant air cargo quoting and booking with Application Programming Interface (API) integration to freight forwarders. The solution, powered by global IT service provider and software development company Awery Aviation Software, gives a consolidated view of all connected airlines and GSA prices on possible flight and truck routing options. “The digital transformation of the air cargo industry is gaining momentum, enhancing efficiency and cost effectiveness across the supply chain,” said Tristan Koch, Awery’s new Chief Commercial Officer. Our in-house team has been working together for over 12 years to develop aviation software solutions to support the digitisation of the industry, and with CargoBooking, we are delivering a streamlined user experience connecting capacity and demand.”

The CMA CGM Group, a world leader in shipping and logistics, announced today the launch of NETWORKING services, the first business matchmaking marketplace in the shipping and logistics industry. Based on the similarly named service launched in 2020 as part of the CMA CGM+ range, this unique and unrivalled digital platform puts the Group’s customers directly in touch with their business partner in a seamless and secure mann The new NETWORKING services marketplace enables the Group’s customers to expand their business worldwide, to create new business opportunities and to find the suppliers or customers that best fit their needs, all while saving on cost and time and reducing the hassle and risks associated with business development.

To be aware of the actual number of traders in the country, the Commerce Ministry announced deactivation of all importer-exporter codes (IECs) that have not been updated after January 2005 with effect from October 6 this year. The Importer -Exporter Code (IEC) is a key business identification number that is mandatory for exports or imports. Without the IEC number granted by the DGFT, no individual shall make any import or export. On August 8 this year, the Directorate General of Foreign Trade (DGFT) was mandated all IEC holders to ensure that details in their IEC are updated electronically every year during the April-June period. “All IECs which have not been updated after January 1, 2005, shall be deactivated with effect from October 6, 2021,” according to a trade notice of the DGFT.

The US-India Strategic Partnership Forum (USISPF) announced its fourth Annual Leadership Summit, titled “Looking Ahead: Strengthening Resilience, Expanding Prosperity,” which will convene virtually this year from September 29-October 1. The program will include a range of strategic discussions between USISPF’s board members, including Fortune 500 CEOs and senior government officials from both countries. On Thursday, USISPF will honor Natarajan Chandrasekaran, Executive Chairman of Tata Sons, Punit Renjen, CEO of Deloitte Global, and Rajesh Subramaniam, President, COO and Director, FedEx Corp., with the USISPF Global Leadership Award 2021 for leading the corporate community in their heroic efforts of responding to India’s second wave of Covid-19. Congratulating the awardees, John Chambers, Chairman of the USISPF Board, said, “The COVID-19 pandemic has impacted all of us in so many ways since the start of 2020. When the U.S. experienced the height of the pandemic, India stepped up to help us, sending critical medicines to Americans. It was amazing to then see that help reciprocated during the second wave of COVID in India. Partnership is built on trust, collaboration, and people-to-people connections. This year’s three awardees exemplify qualities of true leadership, as demonstrated by their tremendous individual efforts to help India in their time of need earlier this year. We are incredibly grateful for their courage, integrity, and hard work during this time of uncertainty, and are inspired by their actions to build a stronger U.S.-India partnership and more resilient global community.”