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    Business Today

    A New Start

    A national logistics policy, an integrated IT backbone, dedicated freight corridors, multimodal transport systems and a string of ports are poised to transform India's logistics sector.
    by PB Jayakumar Apr 15, 2019 5 minutes

    India's richest businessman, Mukesh Ambani, recently made a small acquisition. Reliance Industries bought a three year old logistics services technology start up 'Grab' for Rs 106 crore with a commitment to put in another Rs 40 crore by 2021. The acquisition of the Rs 28.3 crore revenue company is expected to help in RIL's anticipated e commerce foray.

    In another recent development, Logos, a joint venture between Macquarie backed Logos Property Group and Singapore's Assetz Property Group, bought two logistics parks in Chennai for Rs 700 crore. Further, developers such as IndoSpace, Ascendas Singbridge and e Shang Redwood are reportedly acquiring land parcels in Chennai to set up large logistics parks. A month ago, Morgan Stanley's real estate arm bought a majority stake in Pune's KSH Infra, which runs two warehousing and industrial logistics parks in Pune, for Rs 350 crore.

    A few days

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