UPS moves into India with new joint venture
UPS is teaming up with India-based travel conglomerate InterGlobe Enterprises to launch a new company targeting the growing express sector in the country.
The new company, named Movin, will offer coverage across the country with a portfolio of business-to-business (B2B) services including a day-definite, as well as express, time-definite solutions using ground and air services.
Movin will be headquartered in Gurugram and launched services today (May 26), with operations ramping up in July starting with Mumbai, Delhi NCR and Bengaluru – with more expansions to other metros and cities across the nation to follow.
They said that Movin would leverage UPS’ logistics expertise and InterGlobe’s experience of the Indian market.
A report by Mordor Intelligence shows that the Indian express market is expected to grow by a compound annual growth rate of 10.5% up to 2026, fuelled by growing e-commerce demand.
The report said the current major players in the Indian express market are: Blue Dart Express (a DHL JV), InstaKart Services, Gati, DHL and FedEx. UPS does also have an existing presence in the country.
India’s Business Standard suggests Movin will be a 50/50 joint venture between the two companies.
“India’s growth towards a $5trn economy will be largely supported by the growth of local businesses and logistics which are key contributors to India’s economy. I am confident that InterGlobe’s deep understanding of the Indian market, combined with UPS’s 114 years of logistics expertise will make this venture a success,” said JB Singh, director InterGlobe Enterprises who will oversee the new brand.
“We are certain that our foray into logistics with Movin will contribute significantly to the rapid development and growth of businesses in India. We look forward to enabling and facilitating trade, commerce and employment through this venture.”
Ufku Akaltan, UPS president Indian subcontinent, Middle East and Africa, added: “UPS is excited to launch this new venture with InterGlobe Enterprises. Together we will empower local businesses to grow and connect them to trade opportunities around the world.
“With a strategy of customer first, people led, innovation driven, UPS further expands its global network, including healthcare solutions, through a unique partnership that creates a suite of services to serve B2B customers’ need to grow.”
Damian Brett www.aircargonews.net