Mumbai: Japanese logistics firm Sino Holdings Co on Thursday announced its entry into the domestic market in a joint venture with Mahindra Logistics, which is expected to create a Rs 1,000 crore business model over the next five years.
Mahindra Logistics said in a statement that the joint venture will provide comprehensive logistics solutions backed by digitalisation, innovation and a customer-centric approach, allowing both partners to manage an end-to-end supply chain.
Under the terms of the agreement, the companies will form a joint venture owned by Mahindra Logistics and Seno Holdings, the company said, adding the joint venture will focus on providing integrated logistics solutions covering auto outbound, warehousing to Japanese automotive and strategic non-auto customers. Will concentrate. and transportation, a comprehensive technology suite.
It said the partnership aims to leverage Seino's global relationships with Japanese automotive customers and provide integrated logistics solutions to meet their logistics needs in India.“India's economic resurgence, complemented by its unique geographical location, offers Japanese multinationals an unprecedented opportunity in the country. We envision this partnership to contribute to the creation of sustainable business models worth Rs 1,000 crore over the next five years , which will further strengthen 'Make In'. Rampraveen Swaminathan, Managing Director and Chief Executive Officer, Mahindra Logistics Limited, said, "India's initiative and promotion of local manufacturing is an economic development."
According to the company, the Indian auto industry has witnessed strong growth and has emerged as the third largest automotive market in the world.
It said that with the strategic focus on electric vehicles and programs like 'Make I India', the industry is projected to see continued growth from Japan-based OEMs and auto component manufacturers.“Sino Holdings is expected to provide significant value to customers, and collaborating with the capabilities of Mahindra Logistics, we strive to serve Japanese customers in India. Through this partnership, we will drive digitalization, innovation and customer -centric approach, allowing us to efficiently manage the end-to-end supply chain,” said Yoshitaka Taguchi, CEO of Sino Holdings Co., Ltd.
Mahindra Logistics said in a statement that the joint venture will provide comprehensive logistics solutions backed by digitalisation, innovation and a customer-centric approach, allowing both partners to manage an end-to-end supply chain.
Under the terms of the agreement, the companies will form a joint venture owned by Mahindra Logistics and Seno Holdings, the company said, adding the joint venture will focus on providing integrated logistics solutions covering auto outbound, warehousing to Japanese automotive and strategic non-auto customers. Will concentrate. and transportation, a comprehensive technology suite.
It said the partnership aims to leverage Seino's global relationships with Japanese automotive customers and provide integrated logistics solutions to meet their logistics needs in India.“India's economic resurgence, complemented by its unique geographical location, offers Japanese multinationals an unprecedented opportunity in the country. We envision this partnership to contribute to the creation of sustainable business models worth Rs 1,000 crore over the next five years , which will further strengthen 'Make In'. Rampraveen Swaminathan, Managing Director and Chief Executive Officer, Mahindra Logistics Limited, said, "India's initiative and promotion of local manufacturing is an economic development."
According to the company, the Indian auto industry has witnessed strong growth and has emerged as the third largest automotive market in the world.
It said that with the strategic focus on electric vehicles and programs like 'Make I India', the industry is projected to see continued growth from Japan-based OEMs and auto component manufacturers.“Sino Holdings is expected to provide significant value to customers, and collaborating with the capabilities of Mahindra Logistics, we strive to serve Japanese customers in India. Through this partnership, we will drive digitalization, innovation and customer -centric approach, allowing us to efficiently manage the end-to-end supply chain,” said Yoshitaka Taguchi, CEO of Sino Holdings Co., Ltd.
