UAE, Indian firms Enter Into Logistics Joint Venture
JV will set up 25 e-commerce centres in next three months and about 200 branches in the next 3 years to meet e-commerce market demand in India worth $250 billion by 2025
Indian logistics and transport company Patel Group is foraying into logistics services for the e-commerce sector by entering into joint venture partnerships with logistic companies in the UAE and Saudi Arabia.
Areef Patel, Vice Chairman, Patel Integrated Logistics Ltd (PILL), said the company has signed a Letter of lntent (LoI) with Fetchr, a Dubai-based logistic firm for its foray into e-commerce related services in B2B & B2C deliveries. The joint venture partnership company will invest to set up about 25 e-commerce centres in different parts of India within the next three months and about 200 branches within the next three years.
The joint venture operations will be focused on the Indian market where both the partner companies will invest Indian Rupees 400 million for the expansion, according to Areef Patel.
Studies by leading consultancy firms indicate that the e-commerce market in India would be worth $250 billion by 2025. India’s logistic market is worth $300 billion now.