Committed To Environmental Care, Social Welfare & Nation Building: TCI's Vineet Agarwal
On what should be an ideal budget from the transportation and logistics point of view
In the budget, continued focus on a long-term perspective to build physical and digital infrastructure, incentivising multimodal logistics for carbon reduction, and robust skilling initiatives for the 22 million employed in the sector should be the key priorities. To boost trade and improve competitiveness, we need to maintain the momentum in investments and digitalisation. With this approach, we’ll be able to move fast towards a more resilient and sustainable transport and logistics ecosystem for India.
On TCI's recent developments and milestones
The year 2023 has been one of significant progress for us. We are more committed than ever to nurturing the environment and our society, and building the nation. For the first nine-month period – April 23-December 23 -- TCI saw encouraging growth in consolidated revenue and net profit. For FY24, we look forward to double-digit growth guidance with a strong focus on multimodal, 3PL and value-added services. We expect Q4 to be the best quarter.
On TCI’s green initiatives and future growth
As a part of our green initiatives, we completed 50,000 B2B trips through CNG & electric vehicles (EV). We added new fleet – both for road and rail operations -- in addition to building our warehouses with green material. TCI is expecting a 10-15 per cent topline growth in FY25.
On overseas business operations
We operate in almost all locations in India, and neighbouring countries like Bangladesh, Nepal, Sri Lanka. We expanded our footprint in the Middle East this year by opening a wholly owned subsidiary in Dubai mainland called, TCIL Middle East LLC.
On key learnings from being the third-generation of TCI House and advice for the Gen Next
My learnings centre on customer-centricity, adaptability and innovation being paramount for the company's growth. At TCI, we believe in upholding these principles, embracing emerging technologies, and fostering a culture of continuous improvement. Respecting the legacy while staying agile is key. Encouraging a forward-thinking mindset and a commitment to social responsibility will sustain success and contribute to an enduring impact.
On where will TCI be in the next five years
We will continue to be the cornerstone of the Indian logistics sector, solidifying our position through innovation and sustained growth. We have a continued capex investment plan of Rs 1,000 crore over the next five years to strengthen our multimodal infrastructure/assets (like containers, working assets, construction of warehouses, new ships, etc.). As the logistics landscape in India evolves, we see ourselves playing a pivotal role in shaping the industry's future. We are poised to contribute significantly to economic development, seamlessly meeting the diverse needs of our customers and adapting to the dynamic changes in the overall logistics landscape.
As Told To Ashish Sinha
