from daijiworld's special correspondent
Panaji, Aug 21: Indo-China business relationship will add another chapter with Bangalore-headquartered Desk to Desk Courier (DTDC) company becoming the first Indian express cargo company moving to China from this September onwards.
Briefing mediapersons in Panaji, DTDC chairman and managing director, Subhashish Chakraborty, announced signing of agreement with Hongkong-headquartered Kerry Logistic company, biggest operator in China, who will be their service provider.
Till now, the Indian cargo companies used to operate through a non-indian multinational partner who had agreement with the China-based companies to deliver cargo, Chakraborty explained. The DTDC itself had done business worth Rs 17 lac in China market via intervention of third company, he added.
With China market venture, the DTDC, which is already present in middle east, south east asian countries, USA and Europe, has created another milestone, the chairman stated.
He said that, in next one year, the company targets revenue of Rs 52 lac, only in terms of exports, from China market, which amounts to 100 per cent growth.
The DTDC, which has added more muscles with Reliance (ADAG group) purchasing 40 per cent of its share worth Rs 70 crore, is now aiming to consolidate its position in the Indian express cargo market by acquiring smaller companies.
"This sector grows at annual rate of 35 per cent… it is largely unorganized. We (DTDC) have aggressive plans for acquisition… There are 2,500 players in the market of which hardly 10 are organized which covers 45 per cent of market," Chakraborty said.
"You become more stronger through consolidation.. we will be giving special focus on markets like auto ancillary, garment, pharmaceuticals and electronic companies," he said.
He stated that many cargo companies have shown interest to join hands with DTDC. "We have designed special franchisee scheme for smaller companies who will get to associated with the brand name like DTDC," Chakraborty said.