The factors driving the rapid growth of the logistics sector in India
The e-commerce boom has perhaps been a driving force in the growth of the Indian logistics industry. Companies sought out integrated solutions that combined warehousing, inventory management, freight forwarding, documentation compliance and logistics companies stepped up. That this demand shows no sign of slowing is only a sign of the times and signals the growing importance of logistics and supply chain management in India.
The adoption of new technologies is also taking the logistics industry to new heights of growth. From real-time tracking of shipments using GPS and the Internet of Things to automated freight forwarding using robots, and even cybersecurity – there are innovative ways in which the logistics industry in India has leveraged digitization and technology to fuel growth and profitability.
The new National Logistics Policy is also set to be a game-changer for the industry. The policy seeks to address the cost and inefficiency plaguing the system through the development of a comprehensive solution, focusing on infrastructure development and multi-modal connectivity. This policy will change the way the industry in India operates and give it a new direction, taking it at par with global standards while also streamlining processes.
Clearly, the growth of the logistics sector in India is dependent on the cooperation between the industry and the government and the adoption of new technologies and policies which will show the way ahead.