Rivigo launches National Freight Index (NFI) for roadways

In a bid to bring transparency to the road freight marketplace, Rivigo has launched the National Freight Index (NFI). This first-of-its-kind barometer of the road freight market in India is based on a Rivigo rate exchange, which gives a live spot rate on over seven million lane and vehicle type combinations in the country. NFI offers an aggregated picture of both live rates and historical trends of spot price movements in the road freight industry. The index is represented in two main forms; in terms of actual freight rates condensed to INR per tonne-km and in terms of relative movement with respect to a base month.
Gazal Kalra, Co-Founder, Rivigo, said, “In the existing logistics market structure, there are high inefficiencies due to information asymmetry, which leads to a great loss of value. NFI will enable unrestricted access and sharing of freight rate information. This will bring transparency in the market and propel the logistics sector towards efficiencies and growth.”