Dimerco Express Corp (中菲行國際物流), which offers freight-forwarding and logistics services, yesterday announced that it has established a joint venture in India in an effort to deepen its coverage of emerging Asian markets.
The Taipei-based company formed its joint venture — Dimerco Express India Pvt Ltd — with Dart Global Logistics Pvt Ltd, an international freight-forwarding services provider based in India.
The Indian joint venture is part of Dimerco’s long-term strategic plan to set up operations in emerging market economies.
In the case of India, the company said it started with agency alliances, followed by setting up liaison offices between 2007 and last year, and finally opening the joint venture, according to the statement.
Apart from the joint venture’s main office in Bangalore, the company has also set up offices in Chennai and Delhi, with another office planned to open in Mumbai, according to Dimerco.
Dimerco said it maintains a conservative outlook on the development of the general market, but sees market potential in the BRIC countries — Brazil, Russia, India and China.
In addition, as India has signed various free-trade agreements with ASEAN members, Dimerco said this would help raise the company’s presence and market penetration in the region.
The company posted NT$1.22 billion (USD$41.43 million) in sales in August, with revenue in the first eight months of the year totaling NT$9.97 billion, up about 2 percent from a year earlier, data showed.