Global logistics company C.H. Robinson has announced its anticipation that revenue from its business in India will double to nearly US$100m in the next three years, The Hindu Business Line reports.
The announcement was made as part of a concession that the company’s performance has not thus far been as good as hoped, but that prospects are positive.
“We are not happy with our performance here but things are looking good as the opportunity is huge. India is now an important part of our global network,” said Stephane Rambaud, the company’s senior vice-president of Global Forwarding of the US.
“We have kept the best place last,” he added, a reference to India’s status as the last in the itinerary for touring the company’s operations across Asia, which he conducted alongside CEO and chairman, John Wiehoff.
Asia contributes around 25 per cent of the US$11bn third-party logistics provider’s global revenue.
India, which has a combined employee strength of approximately 300, contributes around 10 per cent of revenue from Asia, with China the leading contributor.
Wiehoff states that C.H. Robinson is the largest non-vessel operating common carrier in China, while in India it remains among the country’s top players.
The company handles 350,000 20ft equivalent units (TEUs) out of China annually, compared to 25,000 TEUs out of India.
Wiehoff added that the main reason growth opportunities are thought to be very positive in India given the number of the company’s global customers that have operations there.
