29 C
Dubai
Sunday, November 24, 2024
spot_img

World News | Mirae Asset Management to invest in distribution center in Mumbai, India

[ad_1]

Seoul [South Korea]Jan 9 (ANI/Global Economics): India’s Mirae Asset Management said on Friday it will invest in a large distribution center in Mumbai, India.

The logistics business in India has developed rapidly recently, and this is also the first time for a global asset management company to invest directly in India.

Read also | Brazil: The presidential palace, Supreme Court and Congress cleared of protesters, 170 arrested after supporters of Jair Bolsonaro stormed government offices.

The distribution center that Mirae Asset Management will invest about 21 billion won is a 28,000m^2 center that will be completed in 2022 at Bewandi, a logistics center in Mumbai, India.

Bewandi has the geopolitical advantage of connecting Mumbai with other major cities and currently owns the logistics centers of major global companies such as Samsung, Amazon, BMW and Maersk.

Read also | Brazil: Supporters of former president Jair Bolsonaro storm rally in Rio de Janeiro (watch video).

Mirae Asset Management will lease the distribution center to German logistics company Rhenus. Rhenus is a large logistics company with more than 30 distribution centers in India.

Starting with this investment, Mirae Asset Management plans to expand its investment in Indian logistics centers such as Mumbai.

According to lnvest India, India’s national investment promotion and facilitation agency, the demand for distribution centers in India is increasing significantly due to the rapid growth of the e-commerce market and high economic growth.

As more than 90% of distribution centers in India are operated by small and medium companies, the demand for infrastructure is expected to grow further.

Mirae Asset Management established a local subsidiary in India in 2006. (ANI/Global Economics)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)



[ad_2]

Source link

Related Articles

PM Modi Strengthens Global Ties: Successful Three-Nation Tour Boosts India’s International Influence.

PM Modi Triumphant Return: Strengthening Global Ties with Successful Three-Nation Tour covering Nigeria, Brazil, and Guyana. Prime Minister Narendra PM Modi has returned to India...

Chile Leads the Way in Green Energy: Solar and Wind Power Now Generate 44% of the Nation’s Electricity

Chile has taken a significant leap forward in its pursuit of sustainability, with solar and wind power now generating 44% of the nation’s electricity. This...

UAE Operation ‘Chivalrous Knight 3’: Over 121 Aid Shipments Delivered to Gaza Amid Humanitarian Efforts

UAE has reinforced its dedication to humanitarian relief through the ongoing effort known as Operation ‘Chivalrous Knight 3.’   This initiative has seen the UAE dispatch...

BRICS+ Set to Outpace G7 by 2026: A New Era of Economic Power and Global Influence

BRICS+ group, consisting of Brazil, Russia, India, China, and South Africa, alongside a handful of newly integrated nations, is on the brink of a...

From Seed to Superfoods The Inspiring Journey of Bharat Budhiraja and Urbana Superfoods

In a world teeming with fast-paced food trends, Bharat Budhiraja is charting a unique path with his brand, Urbana Superfoods, owned by Krish Perennials Pvt....

Latest Articles