Rivigo launches National Freight Index (NFI)
The National Freight Index (NFI) has been launched by a technology-enabled logistics company Rivigo, which owns a fleet of over 3,000 trucks. The index aims to bring transparency and boost efficiency in the market. 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. The move is aimed at bringing transparency to the road freight market place and transforming the logistics sector. The NFI offers an aggregated picture of both live rates and historical trends of spot price movements in the road freight industry. The index is represented in two main forms: in terms of actual freight rates condensed to Rupees per tonne-km and in terms of relative movement with respect to a base month.