From last couple of years, India has seen significant economic development which is reflected in the global rankings. According to the reports of Global Ranking of the World Bank's 2018 Logistics Performance Index, India jumped to 35th rank in 2018 from 54th rank in 2016 in terms of overall logistics performance. The Indian logistics sector is currently around $160 billion and estimated to be of $215 billion by the end of this year.
This phenomenal growth is driven by emerging e-commerce retailers especially in Tier II, a corresponding increase in demand and the entry of more multinational companies in the FMCG segment. This has further resulted in the rapid advancement of retail channels requiring efficient inventory management and warehousing solutions. Many companies have started engaging with logistics service providers for catering the customised demands of the consumers, in turn, resulting the global logistics market to register a CAGR of over 7 per cent by the end of 2022. The main areas for creating a sustainable roadmap for the growth of the Indian logistics industry are as follows.
INFRASTRUCTURE DEVELOPMENT
This story is from the April - May 2020 edition of TransREporter.
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This story is from the April - May 2020 edition of TransREporter.
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