Taking One Step at a Time

Greetings Readers! ????

Our supply chains are continuously evolving ?? and every day we find ourselves at the forefront of exciting developments ?? that shape the future of trade and logistics. We aim to ultimately bring to you a collection of news pieces and articles ?? that justify the aforesaid perception of the supply chain ecosystem.?

The supply chain industry's road to recovery from the COVID-19 pandemic is a phenomenal one. Even with the numerous disruptions and incidents that bog us down, there is hope that comes with each new day, of the brighter future that lies ahead of us. This week's newsletter is a collection of a few such developments from around the world. Read on for more.

??What did they say????

"With diverse systems seamlessly integrated into ULIP's three-tier structure—data layering, administrative, and presentation, the private sector's engagement with the presentation layer offers a unique opportunity for industries to strategically shape their supply chain and logistics operations." - Dr. Surendra Ahirwar (Joint Secretary - Logistics, DPIIT, MoCI) said while addressing the audience at National Logistics Summit 2023 by PHDCCI

"With diverse systems seamlessly integrated into ULIP's three-tier structure—data layering, administrative, and presentation, the private sector's engagement with the presentation layer offers a unique opportunity for industries to strategically shape their supply chain and logistics operations,"

Invest to propel Indian artisans and farmers onto the global market stage : PM Modi

During his address, the Prime Minister shed light on direct engagements with leaders from prominent global companies that boast extensive retail supply chains, online platforms, and widespread physical stores. These discussions have culminated in the companies' resolute commitment to champion Indian products, ranging from millets to handloom creations, and extend their presence to every corner of the globe.

Supply chain issues affect Boeing's July aircraft deliveries

According to a recent statement by Boeing, they successfully delivered 43 aircraft in July, a decrease from the 60 planes they delivered in June. In contrast, Airbus delivered 65 jets in the same month, outperformed Boeing by more than 20 aircraft. The deliveries of Boeing's narrowbody 737 MAX aircraft specifically experienced a decline from 48 in June to 32 in July. This drop marked the lowest delivery level since April. During that time, Boeing had identified incorrect installations of brackets on the vertical tail of approximately 75 percent of their 737s in stock.

India and Vietnam collaborate to enhance trade and logistics, JTSC held in New Delhi

The two countries recognized the immense potential for trade growth and explored strategies to unlock untapped opportunities. The key sectors for collaboration include agriculture, fisheries, textiles, footwear, pharmaceuticals, chemicals, fertilizers, machinery, equipment, consumer products, energy, and the automobile industry, to strengthen bilateral trade. However, a critical and central theme of the meeting was finding solutions to logistics challenges that hamper smooth trade. A part of the suggestive measures includes exploring direct shipping services, collaborating on freight movement, and enhancing air connectivity.?

Govt. of Telangana, GMR Group, UNEP, and Univ. of Birmingham come together for sustainable cooling and cold chain

The CoE is a joint initiative between the Government of Telangana (Telangana State Trade Promotion Corporation), the Centre for Sustainable Cooling (CSC), the University of Birmingham, the United Nations Environment Programme (UNEP), and the GMR Group. The University of Birmingham will serve as the knowledge partner for the initiative, working towards developing the CoE into a state-of-the-art research and innovation hub that will help deploy needs-driven and equitable system-level cooling and cold-chain solutions in the state and the country.?

Deep Dive: All eyes on TVS SCS as much-awaited IPO hits the floor

Going into the details, the IPO consists of two parts: a fresh issue of new shares worth up to INR 600 crore and an offer for the sale of existing shares by some shareholders. The offer for sale includes shares from different individuals and companies. Yesterday was the anchor investor bidding date and the offer closing date has been fixed for August 14, 2023. The price band has been fixed at INR 187-197 for the INR 880 crore initial public offering (IPO), valuing the company at INR 8,700 crore.

Deloitte decides to cut ties with Adani Ports after Hindenburg's attributions against the latter

Deloitte's decision to resign as the auditor of Adani Ports, an Indian conglomerate, stems from concerns raised regarding specific transactions flagged in a report by Hindenburg, a U.S. short-seller. This move has significant implications and once again casts a shadow on the Adani Group's financials. Deloitte had highlighted certain transactions in May 2023, as also flagged by Hindenburg's report, and indicated its concerns as an auditor with a qualified report. This once again stirred the waters for Adani, which had since partially calmed for the conglomerate as the Adani Group refuted the claims made by Hindenburg.

Foxconn targets India as next EV production powerhouse

As per a report, the Taiwanese company is looking to supply five to seven lakh EVs by 2025, which will account for 5 percent of total electric vehicle sales worldwide. The company has already acquired a manufacturing unit in Ohio, US, for $230 million, which can produce five to six lakh vehicles every year. In parallel, the company operates an EV plant in Thailand and is preparing to expand into passenger car manufacturing. Discussions with Indian state governments for an EV plant leveraging Foxconn's robust electronics manufacturing capabilities in the country are also ongoing.??

Bonus Read ??

From Secrecy to Strength: Supply Chain Transparency is the Key to Critical Collaborations