“About 50-60% of the global vaccines are produced in India. “Last year, the pharma industry turnover in India was about 65 billion. We exported about 28 billions of pharma,” said Chief Guest, Sandeep Prakash, IRS Chief Commissioner GST & Customs Zone, Hyderabad, at the ongoing Cold Chain Unbroken (CCUB) 2024 event in Hyderabad. He added, “In 2030, the turnover is expected to rise to 130 billion. And by 2047, the government’s intention is to take it to 450 billion. So, we are looking at almost 7.5 times increase in the next 23 years. It’s obvious that if we have to grow like this, all stakeholders will have to support the industry. And representing the government, especially from the customs side, I would begin by reiterating our commitment to supporting the industry in increasing the exports. And therefore, I understand the importance of the unbroken chain also. Because this is very important for the pharmaceutical exports. Indian Customs took the lead. Currently, we are facilitating almost 96% of the export consignments. “ The event kickstarted with highly insightful panel discussions on topics such as Airports investing and evolving cold chain infrastructure, dangerous goods management, pharmaceutical and perishable warehousing. With experts from across the world participating in the discussions, the two-day event provided a wonderful platform to discuss ideas, strategies and solutions to build a highly resilient pharma supply chain.  

GMR Airports Infrastructure (formerly GMR Infrastructure) has entered into a share purchase agreement with Fraport AG Frankfurt Airport Services Worldwide, to acquire 10 per cent stake held by the latter in Delhi International Airport for a consideration of USD 126 million. GIL currently holds 64 per cent of the paid-up capital of DIAL and post the proposed acquisition, its stake in DIAL would increase to 74 per cent. The Airports Authority of India (AAI) will continue to hold 26 equity stake of DIAL, the company said in a statement. “Post consummation of the transaction, Fraport’s appointment as the airport operator of DIAL shall continue to be governed by the Airport Operator Agreement and/or any other agreement(s) executed in relation to its role as the airport operator,” it said. The company further stated that the transaction, which is subject to the AAI’s approval and approval of GIL shareholders, along with customary closing conditions, is expected to be concluded within 180 days from the date of execution of the agreement. “Fraport has been one of the original shareholders and have been our partners in airport journey. They have extended significant technical support to Delhi Airport as per their role of airport operator,” GBS Raju, Business Chairman (Airports), GMR Group, said. Commenting on the development, Kiran Kumar Grandhi, Corporate Chairman of GMR Group said, “The acquisition of additional stake in DIAL is in line with our objective of consolidating our presence in core assets of the Group and signifies the importance of Delhi airport in the overall group portfolio.”

The global air cargo market double-digit demand growth continued in August with average spot rates showing their largest year-on-year growth of +24%, according to the latest weekly analysis by Xeneta. Global average air cargo spot rates of USD 2.68 per kg in August were boosted by continuing supply and demand imbalance. August’s global cargo supply grew at its slowest ratio in 2024 to-date at 2% year-on-year, while global cargo demand continued its double-digit growth, rising +11%. The increase was further supported by ocean-to-air shift due to Red Sea disruptions and e-commerce demand.

To promote sustainable development, NITI Aayog and WRI India conducted e-FAST Summit 2024, a full-day event in New Delhi. e-FAST India (Electric Freight Accelerator for Sustainable Transport), spearheaded by NITI Aayog, will soon celebrate two years of collaboration and impact. It collaborated with over 85 esteemed knowledge and industry partners whose invaluable contributions have driven the transition toward zero-emission freight.

Satyaki Raghunath, COO, Bangalore International Airport Ltd (BIAL) says, @The reinstatement of the open sky policy is in harmony with the government’s wider objectives for the sector and we appreciate the move. This policy can play an important role in achieving the government’s ambitious target of 10 million tonnes of air cargo by 2030. The policy is also expected to enhance air cargo movements, particularly benefiting perishables trade, by permitting foreign cargo carriers to operate from all international airports. This initiative enables farm producers and exporters in interior regions of India to access global markets. We are hopeful that this new move will help create a more dynamic and competitive air cargo environment, ultimately benefiting exporters and the Indian economy as a whole.”

Ample Parks, a joint venture between Mahindra Lifespaces Developers and private equity firm Actis, has acquired a 70-acre land parcel in Chennai to develop an integrated industrial and logistics park, said reports. “This is a first step for Ample Parks to develop this project at a strategic location in the thriving industrial ecosystem in Chennai,” said Raghvendra Chandak, Director – Real Estate, Actis. He added that they will be investing over Rs 800 crore in the Chennai land parcel to develop up to 2 million square feet of industrial and logistics warehousing facility for industrial players based in Mahindra World City.