Rahul Bhatia-led InterGlobe Enterprises and Atlanta-based logistics major UPS on Thursday, May 27 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 Enterprises.
The name Movin is the combination of Movement and India and it hopes to offer better efficiencies, stronger distribution channels, advanced technology and application of global best practices.
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.
The powerful simplicity of MOVIN’s service experience is based on the brand’s people-centric and performance-driven approach that will empower us to deliver outstanding customer experiences to businesses across India.”JB Singh, Director, InterGlobe Enterprises
He noted that the JV firm, with its separate board and management team, will have a presence across various sectors, including auto, pharma, healthcare, apparel, electronics and e-commerce B2B among others.
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.
“UPS is excited to launch this new venture with InterGlobe Enterprises. Together we will empower local businesses to grow and connect them to trade opportunities around the world.
With a strategy of customer-first, people-led, innovation-driven, UPS further expands its global network, including healthcare solutions, through a unique partnership that creates a suite of services to serve B2B customers’ need to grow.”Ufku Akaltan, President (Indian subcontinent, Middle East and Africa), UPS
MOVIN will be expanding in a phased manner and will ramp up in July of 2022 starting with Mumbai, Delhi NCR and Bengaluru – with further expansion lined up in other cities across the country.
The JV partnership shows the company’s commitment and belief in the future of India which is very bright.
UPS had a joint venture with an affiliate of Jet Airways, but after the airline went bankrupt the venture has been all but dead. India has been on the cards of global logistics giants.
German logistics major DHL acquired Blue Dart in 2004 and currently holds a 74% stake in the company. UPS’ US rival FedEx invested USD 100 million in logistics start-up Delhivery in 2021 which got listed in the stock market.
UPS reported a revenue of USD 97.3 billion in 2021. It provides a broad range of integrated logistics solutions for customers in more than 220 countries and territories. InterGlobe Enterprises has a presence in aviation, hospitality and travel-related services.