Rahul Bhatia-led InterGlobe Enterprises and Atlanta-based logistics major UPS on Thursday announced a new joint venture to cater to the Indian market. The joint venture -- MOVIN -- will be based out of Gurugram and have representation from both UPS and InterGlobe NSE 1.51 % Enterprises.
The entity will offer a range of B2B logistics services in the domestic market.
MOVIN will offer day-definite, express as well as time-definite solutions, which would help businesses with better predictability and competitiveness to integrate into the global value chain.
"India's growth towards a USD 5 trillion economy will be largely supported by the growth of local businesses and logistics, which are key contributors to India's economy. I am confident that InterGlobe's deep understanding of the Indian market, combined with UPS's 114 years of logistics expertise will make this venture a success," InterGlobe Enterprises Director JB Singh said.
The partners are certain that the foray into the logistics with MOVIN will contribute significantly to the rapid development and growth of businesses, especially small and medium enterprises, in the country, he added.
Leveraging UPS's global logistics expertise combined with InterGlobe's deep understanding of the Indian market, MOVIN will build technology-backed solutions that will link companies across the country to international businesses with speed, reliability and enhanced digital customer experience.
The JV will offer seamless integration across air and ground networks to B2B customers, enabling an uninterrupted flow of goods backed by consistent, predictable and responsive operations.
26/05/22 PTI/Economic Times
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