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HOW PEB SOLUTIONS ARE TRANSFORMING MULTIMODAL LOGISTICS PARKS
Construction Week
|February 2024
Sunil Kumar Agarwal, whole time director, Kamdhenu, makes a few points
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Development of multi modal logistics park under PM Gati Shakti National Master Plan is a key initiative of the government of India to improve the country's freight logistics sector. The aim is to reduce overall freight costs and time, while providing efficient warehousing, and improved tracking and traceability of consignments thereby enhancing the efficiency of the entire Indian logistics sector.
According to a recent FICCI-Grant Thornton Bharat Knowledge Report on 'Evolving Landscape of Warehousing & Logistics in India: A road to third-largest economy by 2027', India's warehouse market plays a crucial role in the global supply chain. It is projected to reach USD 34.99 billion (Rs 2,872.10 billion) by 2027, expanding at a compound annual growth rate (CAGR) of 15.64% from 2022 to 2027.
The demand for warehouse facilities is driven by sectors such as third-party logistics (3PL), manufacturing, retail, e-commerce, and fast-moving consumer goods (FMCG).
The government's initiatives, including Make in India and the production linked incentive (PLI) scheme, have further boosted prospect for manufacturing sector, contributing to the demand for warehouses.
This story is from the February 2024 edition of Construction Week.
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