New Delhi, Feb 25: Leading express distribution and supply chain management firm Gati Ltd today said it is eyeing a five per cent share in the 57 billion dollar Indo-EU goods trade by entering into a strategic alliance with Amsterdam-based General Logistics Systems.
''We expect a business of about five per cent of the Indo-EU trade volume that stands at about 57 billion dollars through this partnership,'' Gati Ltd MD and CEO Mahindra Agarwal told reporters at a conference here. This is in line with our aim of reaching a topline of Rs 1,000 crore, he added. It reported a topline of Rs 496 crore last year, growing at 21 per cent.
''Gati will act as GLS' international strategic partner in the country by which GLS' customers will find access to markets in India, while GLS will easy access for Gati's customers to Europe and enable Gati to penetrate and capture a significant market share in Europe,'' he said.
GLS, one of the three largest parcel service providers in Europe, has reported revenue of 1.6 billion euros for FY 2006-07. It handles around 311 million parcels in 36 European states.
Gati had also announced an investment of 100 million dollars in 2006. ''We had announced an investment of 100 million dollars, which will be completed by June 2009. This has gone towards developing our mechantronic warehouse and other infrastructure,'' said Mr Agarwal Gati already has a presence in the Asia Pacific and SAARC countries.