â€¢ Company has tied up with FARDAR Express, Network Courier and AJ Worldwide to expand its reach across these regions
â€¢ Company to invest 15 million USD on expansion of services
â€¢ Indian logistics industry to grow on account of changing business environment, proposed GST regulations and announcement of Make in India campaign
The Indian logistics industry is witnessing yet another transformation. Companies are forging new alliances to transcend across geographical boundaries. Delhi-based logistics Indian multi-national firm, Budget Group has tied up with worldâ€™s top international logistics companies, FARDAR Express, Network Courier and AJ Worldwide for a wider reach across China, Hong Kong, Singapore, US and European markets.
Driven by growth in the manufacturing and improving infrastructure, the organized logistics in the country is projected to expand at 15-20% CAGR over the next five years. Indian logistics sector has grown at a rate of 15% in the last five years. It is poised for accelerated growth, led by improvement in transport infrastructure, increased e-retailing penetration, impending GST implementation, and other initiatives like â€˜Make in India.â€™
The GST will bring down the multiple taxes imposed by the central government and states and will lead to the creation of a unified market, which would facilitate seamless movement of goods across states and reduce the transaction cost of businesses.
The growing impetus on â€˜Make in Indiaâ€™ campaign of the Indian government also focuses on strengthening of the Indian logistics industry. The success of the campaign and the growth of a number of industries such as IT/ ITeS, retail, pharma, and manufacturing depends largely on the growth of logistics sector. â€œThe announcement of Make in India campaign, proposed GST Bill is bound to impact the sectorâ€™s performance and will help the logistics industry. However, in comparison to its global peers, Indian logistics industry still lags on account of infrastructure constraints. Thus it is imperative that Indian companies work aggressively on their expansion plans and gear up for next big change in the environment scenario. Budget Group is committed to expand its reach and provide better service to its users,â€ said Manoj Kumar, Budget Group.
The multi-national presence establishes Budget Group as a stable and a reliable player in the market. â€œAs we scale up our business and move up in the value chain for specialized tasks, our national and international competence will further improve and will help serve the nation in a better manner,â€ added Mr. Kataria – Managing Director of the Budget Group.
Expressing the thoughts on India alliance with Budget group, Ms. Ma Li Yu (Mary Ma) Chairperson, FARDAR Group said, â€œIndia has huge opportunity for Transportation sector especially in cargo and logistics space. Like China, the growing nature of manufacturing industry and ecommerce penetration in India, there is a huge opportunity for international collaboration to stay connected in the cross national economy of cargo and logistics space. We feel really optimistic with our alliance with Budget Group in India and hope, it will undoubtedly a great way to grow both the companies and get access to global footprint on-the-goâ€.
Budget group is a fast growing Company in delivery segment and promises affordable rates in comparison to competitors. The company has offices in more than 20 countries and plans to expand its reach to more by end of the year. The Company has offices across all Indian metros and cities making it an ideal player in the logistics industry.
About Budget Group
BUDGET group is an established organization with interest in international and domestic courier services, logistics solutions, sourcing support, domestic warehousing, redistribution, exhibition cargo movement, customs brokerage, consulting support. Team BUDGET is an experienced and dedicated unit with a passion and determination to make us the most preferred service provider. BUDGETâ€™s experienced professionals have a worldwide proven track record in the service industry. We promise to deliver excellent customer experience and ensure a healthy, happy and fun working environment for our External and Internal customers.
Fast expanding economic activities along with diminishing trade barriers have created a global explosion in the logistics industry. Competitive pressures in todayâ€™s business have given BUDGET an initiative to provide their customers with an experience of committed and timely solutions to distribution, warehousing and express needs. Here at BUDGET we strive to achieve what our customers expect and deliver with no added cost wherever possible.