Why TCI Logistics is expanding Operations in South Asia? "Trade Increase"

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• An Indian logistics and supply chain management company plans to expand its operations in Nepal, Bangladesh and Sri Lanka.

• The move is part of the company's plan to become a major player in the region's growing middle-class sector.

• TCI is planning to open offices in Sri Lanka, Nepal and Bangladesh as part of its expansion drive across SAARC region.

• "We see that government is also focusing on the region to bolster trade and invest in projects," says Vineet Agarwal, managing director, TCI.

• He stated that despite market risks including rumours of a worldwide recession and the ongoing Russia-Ukraine war, the company was anticipating a 10-15% increase in revenue and profit this year and expected to maintain this level in the upcoming years.

• According to Agarwal, increasing the proportion of regional companies would help the economy flourish.

• A significant amount of the $300 crore TCI plans to invest in FY23 is designated for the purchase of a ship that will support seaways operations.

• The corporation now has six ships in its fleet, but two will shortly reach the end of their useful lives. According to him, success was largely due to a focus on fundamental business principles and rising demand in the transportation and consumer goods industry.


source by: livemint

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