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In recent years, a number of logistics aggregators have emerged in India to fulfill the growing need for delivering perishables in minutes. Their nimble, asset-light operations are drawing attention.

Surprisingly strong metrics alongside aggressive expansion mask a lurking balance-sheet risk. Moreover, competition is not going to be kind to the retail giant any time soon.
Brands are racing to build rapid delivery on their own channels—despite unclear economics and no proven success stories. Will they succeed?
Online retailers are increasingly realizing that they can manage their own shipments. Where does that leave India’s leading logistics company, which owes much of its growth to the country’s e-commerce sector?