Tiger Logistics announces Strategic Plan for 'TiGreen' to Solidify Position in Sustainable Energy Space

Tiger Logistics, a BSE listed international logistics company, has announced its strategic plan towards setting up a dedicated vertical - 'TiGreen' which will be focusing on strengthening its presence in the global trade of sustainable & renewable energy, by providing tailor-made international logistics solutions, primarily for solar power and electric mobility segment.

The scope of this dedicated vertical is in alignment with the Indian government's initiatives towards promoting sustainable and renewable energy such as PM Surya Ghar scheme, which is expected to increase imports of solar cells, modules, or associated components. In 2023, Tiger Logistics strengthened its network in Cambodia, Malaysia, Vietnam, Thailand and Hong Kong which are emerging alternate destinations for the import of Solar Module Panels in India.

According to a report by Institute of Energy Economics and Financial Analysis, exports of Solar Modules from India to US witnessed 16X growth from FY 23, accounting to 97% of India' exports at around $1 billionand is projected to grow henceforth. Parallelly, several global automakers are ready to hit global markets in2024-2025, and many are looking at India as a manufacturing hub for EVs with the government's plan to welcome global players and promote 'Make In India EVs'.

The specialised vertical, TiGreen will leverage Tiger Logistics' extensive expertise to streamline the transportation and distribution processes for solar components, and Electric Vehicles across the country and worldwide. To lead this vertical, Tiger Logistics will be hiring across multiple positions, including 'Global Head, TiGreen' who will spearhead the vertical, and further add strategic direction to Tiger Logistics ambitions in 'Green Logistics'.

"We recognize the critical role that logistics plays in shaping a greener future along with the government's vision for a cleaner and greener future. As the world transitions towards renewable energy and eco-friendly transportation solutions, the logistics sector must adapt and innovate to support this transition effectively." Mr. Harpreet Singh Malhotra, CMD, Tiger Logistics said.

Tiger Logistics is already working with major global organizations & SMEs to handle export and imports for Solar Modules & Electric Vehicles. With the commencement of TiGreen, the company will be looking at fostering partnerships with businesses, government & PSU organizations, and stakeholders committed to sustainability, thus driving collective progress towards a more sustainable and resilient future.

Source : Equity Bulls

Keywords

TigerLogistics StrategicPlan TiGreen SustainableEnergySpace