CARGOCONNECT-MAY23 - Flipbook - Page 6
India’s total exports crossed
US$750 billion in the fiscal
year ended on March 31. It is
an all-time high – an increase
of over 13% on a yearly basis.
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India’s regulatory environment is fluid.
There are over 3,500 regulatory updates
published annually. Since these changes
are often applicable immediately, they
require a time-sensitive interpretation
and implementation. Based on a recent study
done by TeamLease Regtech, it was found that
there were over 300 regulatory updates that
affected an MSME company in the logistics and
supply chain industry.
Interestingly, the same survey also
discovered that key managerial
personnel in many of the country’s
supply chain and logistics
services companies have a poor
understanding of compliance obligations in
over 75% of the instances. As a result, they
are often unpleasantly surprised in the event
of show-cause notices, instances of financial
fines and penalties, cancelled licenses, revoked
permissions and leaked revenue.
The Unified
Logistics
Interface
Platform (ULIP)
is enabling
secure access to the data
related to logistics and
resources available with
various ministries. At present, 33 systems from
seven ministries are integrated through 106
APIs covering more than 1600 data fields for
usage by the stakeholders. Leveraging ULIP’s
API integration, industry players have developed
more than 30 applications and more than 6.5
crore API hits have already been processed.
6 | CARGOCONNECT MAY 2023
With SATS completing its
acquisition of ground handler
Worldwide Flight Services (WFS),
the combined company now boasts
an Americas-Europe-APAC network
with a global footprint of 201 cargo and ground
handling stations in 23 countries, covering trade
routes responsible for more than 50% of global
air cargo volume.
Law-making authority across
various levels of government has
created three layers of compliance
— union, state and municipal. On
average, a logistics and supply
chain company faces a total of 648 compliances,
of which 56% are at the union level, 42% are
at the state level and the rest 2% are at the
municipal level.
What started with companies
like Ola, and Zomato building a
hyperlocal service model has now
transformed into a complete sector.
The quick commerce market is set
to reach a US$5.5 billion market size by 2025
with companies like Dunzo, Shadowfax, and
Blowhorn among others leading the charge.
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Apple is moving its production away
from China and setting up plants
in India. This shift is believed to
bring about a change to the entire
supply chain of the US-based tech
giant, including
the procurement
of raw materials
from suppliers. By
late 2022, the tech
giant moved 5% of
its global iPhone
14 production to
India, and the brand
looks to expand
its manufacturing
capacity in the country to produce 25% of all
iPhones by 2025.
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TVS SCS through its UK operations
manages circa 3 million items
per day for customers across
automotive, beverage, defence,
healthcare, rail, and utilities
sectors. These clients rely on TVS SCS’ ability to
create and manage a resilient supply chain that
actively mitigates the risk of supply from global
disruptions.
Some of the key thematic areas of
the National Logistics Policy, that the
Union Government is concurrently
working are — National Logistics
Law, National Logistics Master Plan,
National Grid of Logistics Parks and Terminals,
National Logistics Platform (iLOG), National
Packaging Initiative, and the development of a
National Logistics Workforce Strategy.