FFFAI Convention Last day witnesses talk on finances, future of the industry; Minister of States for Ports, Shipping and Waterways Shripad Naik addresses the Valedictory session

FFFAI Convention Last day witnesses talk on finances, future of the industry; Minister of States for Ports, Shipping and Waterways Shripad Naik addresses the Valedictory session

The third and last day of the convention began with discussions of how to manage finances for the resilient and responsible logistics post pandemic. The concern of every logistics stakeholder now, this was well addressed by Harish Shashidhar from DBS Bank who presented the new age financing model. 

Along with finances, the future of the industry is also a major concern. “Logistics Vision 2030: Building collaborations” session set the tone for the future of the industry. Ennarsau Karunesan, IAPH Regional Director to India presented an overview of the global ports, their development and journey so far when we envisioned “smart ports”.  Global trade has been recorded as US dollar 1 trillion increase Q1 2022 which is an impediment to the growth of ports. Mega Connected ports contribute one third to the regional economy. Gati Shakti is a game changer for mega ports and transshipment ports.

Vandana Aggarwal, talked about Gift City, which is the financial gateway of India for Inbound and Outbound investment. It is a financial SEZ which brings lots of opportunities. Banking units, international stock exchange and insurers & intermediaries are the participants. But at the same time, she urged on financing from India to propel the growth of Gift City so that “we can be self reliant”. Currently it is all foreign investment. In addition she showcased the aircraft leasing framework in Gift City. Keku Bomi Gazder, MD & CEO, AVIAPRO Logistic Services talked about the future of the aviation industry. “Future of air cargo in the next 5-10 years will not be restricted to airports. Revenues from air cargo will get better.” He said, we all have heard about “Internet of things” but “internet of cargo” should be the future. Cargo movement by Drones is the next big thing. Go Green, Go Blockchain and Go Innovate, he summed up his address with these three thoughts.

Comes next is the next generation.  How will the next generation maintain the equilibrium of carrying forward the traditions and bringing in new age practices into the picture. This was well discussed in the ‘Breaking the glass ceiling’ business session –  the most interactive and interesting session with young members of the industry. 

The next generation of the industry veterans gathered on the dais and shared their journey being inherited into the family business, what were the opportunities for them, and where were the challenges and how they see the transition. Vaibhav Vora, Managing Director, Continental Carriers considered the transition as a challenge, burden and opportunity all. Opportunity to take forward and carry it on. When a company’s vision is aligned, talking about goals is a journey in itself. New leaders bring new thoughts and these have to be discussed to align it better and pay respect to the emotion. “How do you show your value, will create valuation”.

When Avishkar Srivastava, Chief Innovation Officer, The PDP Group joined in 2015, he realised that this industry was craving to be organised. “I wanted to change the workplace. Innovation for me is to set a mission statement; once done then innovating. Innovation for me to make people understand where are they working and why are we working and get 360 degree feedback.”

Chaitaly Mehta, Director, EKF GLOBAL Logistics threw a light on the Women’s role in the logistics industry thereby sharing her experience. How she took it as a challenge and this turned out to be a motivational factor for her. “It was never considered a women’s world. It is a safe industry for women.”

Being in the company for around 27 years, Yashpal Sharma, Managing Director, Skyways Group, said, “inheritance and excellence are the two elements which make a place for you in this logistics industry and it worked for me along with destiny. He emphasised on “Brand our industry very well because our children do not want to be part of the industry rather than the company. We need to maintain the core values and pass it on to generation.”

The valedictory session was graced by the presence of Chief Guest Minister of State for Ports, Shipping and Highways Shri Shripad Naik. He focussed on reduction of logistics, which can make the Indian goods competitive in the global market. And for this the minister recognised the important role of FFFAI and its members.The apex body has a vast outreach and has been working closely with the government to chart out policies in the benefit of the logistics and custom brokers fraternity, to clear the goods on time, remove cross border barriers, etc. “The government is committed to enable smooth flow of business in the supply chain. We consider the importance of infrastructure development to make India a global logistics hub. And for this, many projects like Sabarmala, Bharatmala and railways freight corridor have been formulated. The PM Gati SHakti Plan is the way towards an efficient and economical multimodal logistics infrastructure. Thai will lead to economic growth and sustainable development. This is the high time to create a logistics ecosystem which should be technology enabled, integrated, cost effective and leads to inclusive growth.”

With this, the 24th Biennial FFFAI Convention concluded on a high note with many discussions on the dais and many suggestions off the dais. This is not an end of the convention but a new start to a new era, new objectives and missions in front of the fraternity.

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