Optimistic by the prospects post implementation of GST, the Indian multinational 3PL logistics service provider, TVS Logistics Services, functions in almost 14 nations around the globe. The company has declared its insistent growth and aiming revenue of $1 Billion in the coming 3 Years from the Indian market.
The company also affirmed that it won’t contribute more than 40%, as the company’s international business will maintain its rate of growth. Moving forward, the company anticipates that its overseas business will stimulate physically by 10–15%, whereas the Indian market will spur up to 35–40%.
While talking about the opportunities in India, Managing Director of TVS Logistics Services stated, “With the company’s global profits already surpassing the $1 Billion mark, our prime focus will be totally on Indian operations. We have been constantly growing since last five years with a growth rate of 30% and we expect a higher growth in the coming three years to accomplish our objective of $1 Billion through local operations.”
“Owing to GST-regime, we can turn out to be supply chain partner for our customers. There is various large potential accessible to us all around the globe that can be introduced in India to boost the domestic business,” he added.
As per the report, 35% of the company’s business is attributed to the automotive industry. Moving ahead, it projects to focus on the core areas of its business.
“We are fully prepared for this determined expansion target. We will continue to introduce and differentiate operational synergies to deliver value added services and end-to-end solutions to our customers in the country,” said CEO of TVS Logistics Services, R Shankar.
He also said, “We are functioning with both automotive and non-automotive producers for the alliance, in order to enhance their supply chain capabilities. With end-to-end solutions, for instance from supplier to the end user, we will deliver them the efficient solutions, in terms of their inbound and outbound logistics.”
About five years ago, more than 90% of the total profits of the company were generated from the automotive sector, but the company with its efficient business potential has expanded its sources in different sectors such as telecom, FMCG, petrochemical, and technology.