Business
NVGL- Indo-Italian JV to boost global shipping trade
Mr Vaibhav Verma Director NVGL, Mr Ugo Ciarlatani, Consul general Italy, Mr Geroge Schirato, Partner Visa Global, Mr Stanley Gomez, Managing Director, NVGL
NVGL aims to triple its sales turnover & growth in next 3 years
FDI and Positive GST reforms to help Indian Shipping Trade
Mumbai 11th Sept 2017: When two conglomerates decide to work together, the aim always is to grow mutually and reach higher standards. And if this tie-up is between companies from different countries, then the goals are even bigger – to create a global presence for both partners.
The New JV was formally unveiled by H.E Lorenzo Angeloni – Italian Ambassador to India on 6th September 2017 at The Roseate House New Delhi, and in continuation to the same was further celebrated at Hotel Sahara Star in Mumbai on 8th September 2017 by Italian Consul General Mr Ugo Ciarlatani and Italian Chamber of Commerce Secretary General, Mr Claudio Maffioletti. The new JV Company with Navigators and Visa marking its Network, which will be called Navigators Visa Global Logistics Ltd (NVGL). According to Mr. Stanley Gomez, Managing Director, NVGL “This joint venture with Visa Global Group is a step in the right direction for Navigators Logistics. And with the new GST laws Logistics trade will only go from strength to strength. The aim of NVGL is to Triple its growth and Sales Turnover in next 3 years with the Visa worldwide network and expertise with also expansions into other neighboring countries in Indian Subcontinent like Sri Lanka, Bangladesh and Nepal.
Navigators Logistics has being growing at a CAGR of 30-35% year-on-year with expansions within Indian shores. However the promoters’ vision was always to create their own niche by becoming a multinational corporation covering the entire Indian Subcontinent. Mr. Vaibhav Verma, Director, NVGL added “Long term plan is to expand to the Indian sub-continent. I believe since both the companies share the same passion and have an identical drive to succeed, NVGL is here to stay and post GST reforms benefitting the organized logistic sector both companies can benefit from the new reforms and can complement each other and help mutually increase their presence on the Europe-India and Australia-Indian trade lanes.”
Visa Global Group Partner Mr. George Schirato said “I am extremely excited to announce NGVL Joint Venture between the VISA group and the Navigators Logistics. Two Companies with matching synergies will only ensure Logistics trade in India will soar to new heights” Consul General Mr. Ugo Ciarlatani added “ An Indo-Italian tie-up will boost trade ties between the two countries which will be excellent for Global Trade”.
Visa Group Chairman Mr.Vittorio Tarchi said “ I am extremely excited to announce the JV between Visa Group and Navigators Logistics. We always wanted a bigger presence in this Vibrant and fast growing Country INDIA and I think it is an opportune moment for us to join hands with Navigators Logistics who share the same vision and values as we at Visa Group do”.
