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Indian cold chain market forecast to grow

Mumbai, India: The cold chain market in India could reach £4.4bn (INR 381bn) by 2015, according to Netscribes.

A new report on the cold chain market in India includes a market overview, demonstrating the forecasted growth over the period 2010 – 2015.

Factors driving growth include an expansion in organised retail, a shift towards horticultural crops, growth in the processed food sector, demand from the pharmaceutical sector and changing patterns in consumption. Challenges include a lack of logistical support, uneven distribution of cold chains and inadequacies in power supply.

The current trends section highlights the entry of foreign players, rail-based reefers, and cold chains facilities at airports. The report outlines the requirements needed for an integrated cold chain infrastructure and the requirements to meet current cold chain demand in the country.

• Ambit Pragma acquires 74% stake in Mehta Frozen Foods Carrier
Mumbai, India: Private equity investor Ambit Pragma Ventures has acquired a 74% stake in Mehta Frozen Foods Carrier for an undisclosed amount.  Mehta Frozen Foods Carrier has a 60-vehicle fleet and transports frozen food, medicines, meat and dairy products.

This is one of the many recent private equity  investments in the logistics sector that include India Equity Partners acquisition of the domestic road operations of TNT Express in India in December last year. In April, private equity firm New Silk Route invested in VRL Logistics and in January, General Atlantic invested US$125m in Fourcee Infrastructure Equipments, a Mumbai-based freight and logistics company.