How big is the logistics industry in India?
In financial year 2021, the size of the Indian logistics market was around 250 billion U.S. dollar. It was estimated that this market would grow to 380 billion dollars in 2025, at a compound annual growth rate between 10 to 12 percent.
1. Blue Dart Logistics Services
What is the future of logistics industry in India?
The demand for logistics services in India has been largely driven by the remarkable growth of the economy. The growth is being projected at 9-10 per cent in next few years, with the compounded annual growth rate (CAGR) expected to grow at a rate of 7-8 per cent.
According to a recent report by McKinsey Global Institute (MGI), India's logistics sector would expand at a Compound Annual Growth Rate (CAGR) of more than 10 percent, from $200 billion in early 2020 to at least $320 billion in 2025.17-Jun-2022
What percentage of GDP is logistics in India?
India's logistics cost as a percentage of GDP is 8.35% on an average. For years, the government had been of the view that the logistics cost is 14% of GDP. A recent study by National Council of Applied Economic Research (NCAER) has revealed that India's logistics cost as a percentage of GDP is 8.35% on an average.02-May-2022
Every Indian Logistics Company has faced the issue of receiving a bulk load of orders that would break their back while trying to keep up with the supply-chain timeline. Considering the high volume of orders received, it gets difficult to prioritize orders and deliveries while juggling too much on too little time.20-Sept-2019
Which city is best for logistics in India?
Given India's momentous growth in the logistics sector, Nagpur stands to rank among Asia's most crucial goods corridors. In 2015, the global logistics market was valued at USD 8.1 trillion.30-May-2017
Now, when an order is placed with Amazon, traditionally, the order is sent out with a third-party courier, like FedEx. But now with Amazon Logistics, Amazon uses its contracted-out people and their fleet of vehicles to deliver the products for the sake of better and faster delivery options.29-Oct-2020
Who is the richest transporter in India?
Transport Corporation of India (TCI group), with revenues of over Rs. 4300 crore, is India's leading integrated multimodal logistics and supply chain solutions provider.24-Feb-2021
The future of transportation & logistics will offer a world of opportunities, but the transformation will require substantial steps and boldness. The industry needs to be open to new insights instead of being mentally closed by existing ones. Each industry has its owns challenges, and digital disruption is everywhere.
What are the scope of logistics industry?
The scope of logistics management involves order processing, inventory, transportation, materials handling and packaging. It encompasses business logistics, distribution, materials management, quick response system, supply management.
According to Research and Markets, “the global logistics market was worth 10.32 Billion USD in 2017 and it is estimated to grow to 12.68 Billion USD by 2023 with a CAGR (compound annual growth rate) of 3.49% between 2017 and 2023.”
What percent of GDP is logistics?
7.44%
The logistics industry can be defined as the science of obtaining, producing and distributing material and products to the correct place and in the correct quantities. In a military sense, where it has a greater use, its meaning also includes the movement of personnel.20-May-2021
What is India's GDP in 2021?
The GDP in 2021-22 was at ₹147.35 trillion, which is just 1.5% more than the GDP of ₹145.16 trillion achieved in 2019-20.31-May-2022
Supply side supply chain challenges in India mainly relate to poor infrastructure, complex tax infrastructure, weak distribution system, fragmented market, and lack of technology adoption. Though India has the second-largest road network in the world, totaling 4.2 million kilometers, most of it is of poor quality.25-Feb-2013
Why are logistic costs so high in India?
The Railway minister highlighted that India's share of railways in overall transport of goods has been falling since 1950 which is the prime cause that the cost of logistics is so high in the country.28-Jul-2022
One of the main reasons behind these additional costs is the highly fragmented nature of the industry. The Indian logistics sector operates in an ecosystem where the majority is made up of small fleet owners and the rest are a non-optimal number of organized players.11-Apr-2022
Why do logistics companies fail?
Many businesses fail due to an inability to measure their growth potential, which is vital for efficient logistics operations. Too much stock costs a lot to store, given the charges accruing from leasing a warehousing unit. Less stock with ample storage space also results in unnecessary expenses.18-Jun-2020
Here are four major logistics challenges that modern businesses are facing:
What is the biggest challenge in logistics?
Here is a snapshot into 8 of the top challenges facing the industry.
How big is the logistics industry in India?