Singapore, 8 February 2010 – TNT, the world’s leading express integrator, today announced that it anticipates strong growth in India, attributed by its growing air and road network connectivity and service expansion in the country, as well as the impending national sales tax introduction which TNT believes will drive freight demand.
Onno Boots, regional managing director of TNT Southeast Asia and India said, “India’s holds a vast wealth of potential. Despite the global economic challenges, the country surpassed expectations by growing 7.9 per cent last year up to the third quarter.1 Many Indian businesses are not growing their footprint domestically, but also internationally. These are exciting times for TNT as we intensively build our connectivity within India to provide customers a strong, integrated air and road network across the country, and across key international trade lanes such as China, Europe and Southeast Asia.”
In 2009, TNT saw impressive growth in India, especially in the hi-tech sector, including service logistics sector and the healthcare sector. In the hi-tech sector, TNT has been working with several Fortune 500 companies in the management of its after-market business through the establishment of key regional distribution centres that reduce delivery time and costs significantly.
Such distribution centres spread beyond India into Southeast Asia tapping on to TNT’s air network which is seamlessly connected to its unique Asia Road Network – a road transportation system wholly managed by TNT, spreading across 6 countries, from Singapore to the south of China, in 125 cities.
As the global economy recovers, TNT intends to see stronger growth in these sectors which will be accelerated by the implementation of a country-wide goods and services tax in April. Current taxes in India are consist of national, state and local taxes which hamper the development of more sophisticated supply chain solutions that will propel domestic and international trade, and subsequently the need for more time and day definite services.
TNT will be launching a high growth strategy this year that will include enhanced international connectivity of the India network to its China and European network as well as a focused growth plan for its India Domestic Network. The announcement on TNT’s extended air network to India will be made by the end of the second quarter this year.
Already off to a fast start this year, TNT Airways last week received the runners-up award for the ‘Air Cargo Integrator of the Year’ title. Awarded by STAT Times in India, these titles are presented in conjunction with the ongoing Air Cargo India event.
About TNT TNT provides businesses and consumers worldwide with an extensive range of services for their mail and express delivery needs. Headquartered in the Netherlands, TNT offers efficient network infrastructures in Europe and Asia and is expanding operations worldwide to maximise its network performance. TNT serves more than 200 countries and employs more than 163,000 people. Over 2008, TNT reported €11.1 billion in revenues and an operating income of €982 million. TNT is officially quoted on the Amsterdam Stock Exchange. TNT recognises its social responsibility and has formed partnerships with the United Nations World Food Programme and the United Nations Environment Programme to fight hunger and pollution in the world. Our efforts are being recognised; in 2008 TNT again reached the highest score of all companies included in the Dow Jones Sustainability Index and in the Carbon Disclosure Project in the carbon intensive sector. More information about TNT can be found on its website http://group.tnt.com.