Business Recorder
NEW DELHI: Truck rentals in India dropped by 4% to 5% in April after a sharp 9% to 10% decline in March on key routes due to Iran war and low supplies from the key manufacturing hub, the Indian Foundation of Transport Research and Training (IFTRT) said. IFTRT said there is a decline of about 15% to 20% in dispatches from manufacturing hubs, particularly small and medium enterprises that account for about 70% of the intra and inter-state cargoes Increased arrivals of wheat, pulses and summer fruits and vegetables boosted agri-logistics demand by 20% to 25%, leading to a shifting of capacity to wholesale markets to offset losses in industrial freight, it said IFTRT said that while local diesel prices have not been raised, truck tyre prices have risen by 4% to 5% in the last 4 to 6 weeks, increasing operational expenses of the fleet owners
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