Mumbai: Japanese logistics firm Seino Holdings Co on Thursday announced its entry into the domestic market in a joint venture with Mahindra Logistics and expects to create a Rs 1,000-crore business model over the next five years. The joint venture would offer comprehensive logistics solutions supported by digitisation, innovation, and a customer-centric approach, allowing the two partners to manage the end-to-end supply chain, Mahindra Logistics said in a statement.
Under the terms of the agreement, the companies will form a JV owned by Mahindra Logistics and Seino Holdings, the company said, adding, the JV will focus on providing Japanese automotive and strategic non-auto customers with integrated logistics solutions covering auto outbound, warehousing and transportation, and a comprehensive technology suite.
This partnership aims to offer integrated logistics solutions to leverage Seino’s global relationships with Japanese automotive customers and serve their logistics requirements in India, it added.
“India’s economic resurgence, complemented by its unique geographical location, offers Japanese multinational companies an unprecedented opportunity in the country. We envision this partnership contributing to the creation of a sustainable Rs 1,000-crore business model over the next five years, further reinforcing the ‘Make in India‘ initiative and fostering local manufacturing and economic growth,” said Rampraveen Swaminathan, Managing Director and Chief Executive Officer at Mahindra Logistics Ltd.
According to the company, the Indian auto industry has witnessed strong growth and has emerged as the third-largest automotive market in the world.
With a strategic focus on electric vehicles and programs such as ‘Make In India,’ the industry is estimated to see continued growth from Japan-based OEMs and auto component manufacturers, it said.
“Seino Holdings is expected to provide significant value to customers, and in collaboration with Mahindra Logistics’ capabilities, we endeavour to serve Japanese customers in India. Through this partnership, we will offer comprehensive logistics solutions supported by digitization, innovation, and a customer-centric approach, allowing us to efficiently manage the end-to-end supply chain,” said Yoshitaka Taguchi, CEO, Seino Holdings Co Ltd.
