Future Group buys Transmart India’s warehousing business

   Transmart India has sold its warehousing business to Future Supply Chain Solutions, the logistics and supply chain arm of Future Group. Included in the sale are more than 12 clients and a 2,000,000-square-foot distribution center outside Mumbai.
   Future Supply Chain Solutions said that the deal will give it a readymade infrastructure able to handle goods worth roughly $288 million. The company currently has 60 hubs that service 2,600 retail outlets from five million-square-feet of warehouse storage space and plans to have an additional nine million-square-feet by 2014.
   Currently, it is estimated that Future Supply Chain earns 70 percent of its business by servicing the retail operations of its parent company.
   Amitabh Mall, director at Boston Consulting Group, told the Economic Times that retail logistics is a “very strong sector” for growth in the country, estimating India’s retail market at $28 billion with the ability to grow to $260 billion over the next 10 years.