Release time: Tuesday, September 18, 2018
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Founded in 1926, Federation Internationale des Associations de Transitaireset Assimiles (FIATA) or International Federation of Freight Forwarders Associations is a non-governmental organisation, and represents over 40,000 forwarding and logistics firms, employing around 10 million people in 150 countries.

FIATA has consultative status with the Economic and Social Council of the United Nations; the United Nations Conference on Trade and Development; and the UN Commission on International Trade Law. J Krishnan of S Natesa Iyer & Co, one of the oldest freight forwarders in Chennai, said FIATA is the only international body of freight forwarders that sets industry standards, participates in rule making and FIATA diploma is internationally recognised.

Each member country has to bid to host the FIATA World Congress.The event in Delhi will be biggest ever within FIATA and even in the Indian logistics sector.

On September 26, nearly 1,000 delegates from 120 countries will congregate in Delhi to participate in the FIATA World Congress, to be hosted for the first time in India, to discuss various aspects related to logistics.

In India, freight forwarders handle 98 percent of cargo through Customs, and ship over 99 percent through various modes of transport on both cycles. Almost all manufacturing and trading companies outsource these functions.The presence of many multinational freight forwarding companies makes this space interesting.

Studies have estimated that India can save up to $45 billion if logistics costs are brought down to 9 per cent of the GDP, thereby making domestic goods more competitive in global markets. Indian freight forwarders are looking out for multiple partnerships in different countries for mutual benefit, said Vijayakumar, who is the Managing Director of Chennai-based Paramount Shipping Services.
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