India shipping regulator proposes logistics firm

Monday, 7 November 2011 00:00 - - {{hitsCtrl.values.hits}}

MUMBAI, (Reu-ters): India’s shipping regulator has proposed to set up an inter-modal logistics provider with state-run Shipping Corp of India , Container Corp of India and Central Warehousing Corp of India as shareholders, a top official told reporters on Thursday.

The state-run firm, to be known as Logistics Corp of India, will connect rails, roads and ports and invite private sector partnership, Director General of Shipping S. B. Agnihotri said on the sidelines of a CII summit.

The heads of all the three firms - SCI, CCI and Central Warehousing Corp of India - have shown willingness to form the company, but the move was yet to be vetted by the Federal Ministry of Commerce and Industry, he added.

“I would think that the push needs to come from either the Ministry of Commerce or the DIPP (Department of Industrial Policy and Promotion),” Agnihotri said.