The proposed Goods and Services Tax (GST) Bill will be a game changer for India's express and courier industry, minister of state for finance Jayant Sinha said on Monday, listing GST as one of the "vectors" transforming the country's logistics sector.
"GST will change the supply chain...long lines on inter-state borders are going to go away," Sinha said at a conference here on e-commerce organised by the Express Industry Council of India that also discussed the proposed reform of India's indirect tax regime.
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US courier giant FedEx Corporation’s (FedEx) €4.4 billion (c.$4.8bn/£3.2bn) bid for Dutch rival package delivery firm TNT Express N.V. to expand its European operation has sparked a boost in courier company shares. A joint statement on the FedEx website from both groups states that a “conditional agreement on a recommended all-cash public of €8.00 per ordinary TNT Express share” had been reached – a 33% premium on TNT’s closing share price before the announcement came this April.
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