In comparison to other emergent countries India uses 13 percent of its Gross Domestic Product (GDP) on logistics which is generally much higher. In order to enhance the growth of the sector, the Govt of India has come up with some exclusive ambitious plans and policies.
For the development of the logistics market, numerous events associated with logistics, transportation & supply chain are arranged in India every year. These types of events are very useful to provide business solutions as well as create strengthening platform for professionals coming from a broad industry gamut.
Some good numbers of global third party logistics providers (3PLs) step in India and start their business operation and network to walk around the raging Indian economy. This will create more scopes for a wide array of supply chain management (SCM) and logistics solutions taking into consideration numerous factors like supply chain, logistics, material handling, storage, Information technology (IT), warehousing and inventory management. The effectiveness and output of the entire value chain will be increased concerning various dimensions of profits, speed and customer service.
Several renowned Institutes have started valuable courses in logistics & supply chain management. Among them The Confederation of Indian Industry (CII) is considered as a recognized institution. It has set up a specialized high-tech institute of excellence known as the CII Institute Of Logistics which concentrate on the most updated practices on SCM and logistics.
In near future Indian will play a dominant role in Global logistics market as Indian logistical market players have started to make their position stable in the global logistics market. Logistics services market India is on a growth route as a result of fast globalization and 100% FDI allowance. The major sectors comprise fashion, gems, jewelry, pharmaceuticals, precision tools and engineering goods, all of which require particular shipping provisions.
Author by: Rajib Dey