Logistics Industry acts as the backbone of many industries. Industries like FMCG, Pharma, Construction, E-Commerce, etc heavily rely on logistics.
But with time, the working of logistics in the industrial world and the global market has evolved a lot. Over the last decade, the evolvement of the logistics sector has led to an increase in the growth of logistics in India.
India was ranked 54th in the logistics industry as per the global Logistics Performance Index in 2014. The ranking jumped to 35th in the year 2018. Today, the Indian logistics industry is the most promising in terms of growth and revenue.
Growth Opportunities For Entrepreneurs In Indian Logistics Industry
The government of India is taking suitable actions to modernize the functions and working of Indian logistics. And to improve supply chain efficiencies, connectivity, and to help logistics companies to tap the underleveraged markets in the country, key infrastructure development plans have been rolled out.
Also, with the rise of eCommerce in India, Logistics Industry in India has seen tremendous growth and will continue to do so.
Top reasons why you should choose Logistics Industry if you are planning to start a business.
- Logistics Industry in India is a billion-dollar industry ($160 Billion in 2019), and with advancements in technology, it is growing at rapid speed.
- Investors are willing to invest in Logistics startups because of the rise of e-commerce and the need for logistics.
- With the emergence of artificial intelligence, machine learning, and the internet of things, there is a huge room for Innovation in Logistics Industry.
List Of Some Logistics Companies in India
- Ecom Express
Growth Forecast and Future of Logistics Industry In India
The value of the Indian logistics Industry is said to be around $160 Billion (in 2019 ), and it is forecasted to reach $250 Billion in the year 2020.
Some investors have stated that numerous B2B logistics startups are applying cutting-edge technology, such as robotics, automation, data analytics, and IoT in logistics. And as per the Investors, the addition of technology in the traditional logistics ecosystem has the potential to disrupt the logistics industry in India.
Co-Founder of Falcon Edge Capital and Investor in Locus (a Logistics Startup), Navroz D Udwadia, in an interview, said,
“We believe the trillion-dollar global logistics market is ripe for disruption via technological change, particularly AI and Machine Learning-driven solutions. With Blue Dart and other prolific anchor customers, the (Locus) team has demonstrated the ability to build and deliver cutting-edge technology and algorithmic-driven outcomes that provide attributable ROI to the enterprise at scale.”
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