Logistics Growth Story in India
by Ramya Pattabiraman,
A look into how the logistics industry has seen its share of growth in India.
The logistics industry has seen some exciting times in the recent years. The perspective of the industry has seen a complete transformation and the standards of operation have improved by leaps and bounds. The last five years have been a dream run for the logistics sector and professionals in the industry have witnessed tremendous growth. Thanks to the advancements in the industry, investments have sky-rocketed and have made room for showcasing newer talent that displays immense potential for the future. Logistics is also being poised to be a modernized industry due to the technological implementations that are changing the face of the workings in supply chain. One of the contributing factors to the technological advancements of the industry is the mushrooming of tech-based start-ups across the country. Start-ups have taken several challenges faced by the professionals head-on and produced creative solutions that help cut down costs, save time and boost productivity. Industry experts predict the technological journey of logistics to continue for years with disruption at its core. Several of these tech disruptions are expected to emerge from AI & ML-driven solutions.
Despite all the success and transformations that it has witnessed, the logistics sector has always been conventional in its attitude. It is dominated by small, regional players with imperfect operational practices.
In recent times, the e-commerce industry has significantly revolutionized the virtual market economy. The e-commerce industry is heavily dependent on logistics for its success and the fate of the two industries are interwoven.
Geographically, certain parts of India are moving at a faster pace than the rest. For instance, West Bengal and the North Eastern zones of India are displaying huge potential for growth. This is because organized warehousing space in North East India is less than 8% of the total warehousing space in India. Shorter supply chain, fragmented & unorganized characteristics of the region provide a huge potential for consolidation.
In this highly fragmented and localized market, ProConnect stands as one of the leading organized service providers. In India, the logistical barriers do not pertain to cost alone, but range from timeliness, visibility, reliability to transparency, which cover the entire gamut of activities performed in the logistics network. ProConnect is poised to leverage its knowledge and expertise in the sector to translate it into a healthy performance amidst all the market challenges.