cargo-partner to expand India presence
International transport and logistics group cargo-partner AG said it plans to have 28 offices in India by the end of 2008, after opening 20 within its first year of business in the booming South Asian country.
The Vienna, Austria-based company established cargo-partner Logistics India Pvt Ltd. early last year and is expecting turnover growth of at least 25 million euros in India this year.
“Our IT potential was especially well received by the market. Believing in the right Indian management was the right thing to do,” said Stefan Krauter, cargo-partner’s chief executive officer.
Krauter sees expansion in India as an “important and strategically logical” step towards closing ranks with the leading air and sea freight providers between continental Europe and Asia and said the company is looking to acquire several new major customers in India, highlighting the project business and automotive industry.
He added the Indian economy will experience a strong long-term growth, in terms of foreign trade at least in double digits, and by 2030 may well become the world's third-largest national economy.
“We expect the India potential (in the medium-term) to make out approximately one-tenth of that of China, however in absolute numbers this would still be huge. Henceforth we are perfectly positioned within these two large markets and as one of the first movers in India can cover all transport activities, and in particular also the up- and downstream areas,” he said.
The company's Indian office are located in Kolkata (head office), Hyderabad, Haldia, Bangalore, Coimbatore, Chennai, Tirupur, Tuticorin, Karur, Pune, Mumbai, Ahmedabad, Nhava Sheva, Baroda, Aurangabad, Mundra, Delhi, Panipat, Ludhiana and Kanpur.