On 20th June, 2019, Rivigo, a Gurgaon-based tech-enabled logistics start-up has launched National Freight Index (NFI) that will provide live freight rates for different lanes and vehicles across the country.
The NFI is the barometer of the road freight market in India and is based on Rivigo rate exchange, which gives a live spot rate on over 7 million lane and vehicle type combinations in the country.
Aim: To bring transparency to the road freight market place and transform the logistics sector.
Need: High rate of inefficiencies in existing freight market lead to a great loss of value. NFI use will ensure unrestricted access by giving a fair and precise representation of state of country’s spot market and will bring transparency in road-freight marketplace.
Benefits: Will bring a pricing transparency, in a system where demand traditionally flows from transporters, brokers, fleet owners and then to drivers.
