Data Focu

Higher truck rentals in October points out economy is revving up: IFTRT

Our Bureau New Delhi | Updated on November 03, 2020 Published on November 03, 2020

The upswing in the manufacturing coupled with a quantum jump in ‘Kharif’ crop harvest bolster transport sector.   -  THE HINDU

As per IFTRT data, there was around 10 per cent growth in fleet utilisation and 10-12 per cent hike in truck rentals

Truck rentals for popular routes firmed up in October 2020 compared to September on the back of an upswing in the manufacturing due to peak festival season.

According to data collated by the Indian Foundation of Transport Research and Training (IFTRT), there was around 10 per cent growth in fleet utilisation and an increase in truck rentals by 10 per cent to 12 per cent on the trunk routes.

S P Singh, Senior Fellow and Coordinator, Indian Foundation of Transport Research and Training (IFTRT) said that the upswing in the manufacturing was due to peak festival season and a quantum jump in ‘Kharif’ crop harvest and MSMEs joining the expansion in factory output has led to this growth.

“There is also a 15 per cent to 20 per cent increase in truck freight in the intra-State movement for agri-food products except in States of Maharashtra and Telangana due to widespread damage to standing crops on account of unseasonal heavy rains,” Singh said.

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Published on November 03, 2020
road transport
transport and logistics
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