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Logistics service provider Budget Group is spreading its wings abroad through tie-ups with international logistics companies.
This Delhi-based logistics firm announced strategic alliances with China-based FARDAR Group, Singapore-based Network Courier and also A.J. Worldwide to expand its reach to 11 more countries across Asia, South Asia, Europe and the US.
“This international consortium plans to invest close to $12 million through credit facility and investments into this partnership,” said Manoj Kumar, Founder and Chairman of Budget Group.
Besides this investment from overseas partners, Budget Group on its part will invest another $3-5 million in next 3-5 years, Kumar said.
Given the growing nature of manufacturing industry and e-commerce penetration in India, there is huge opportunity for international collaboration to stay connected in the cross national economy of cargo and logistics space, said Ma Li Yu (Mary Ma), Chairperson FARDAR Group.
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