India's Logistics Sector To Reach ?47.12 Lakh Crore By 2030, Driven By Technology And Policy Reforms: Study

Automotive and Transportation Automotive and Transportation

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India's Logistics Sector To Reach ?47.12 Lakh Cro .. 0, Driven By Technology And Policy Reforms: Study

India's Logistics Sector To Reach ?47.12 Lakh Crore By 2030, Driven By Technology And Policy Reforms: Study

^{Published on 2024-12-03 09:31:41 - Aaron Neefham, N@N}

Mumbai: India's logistics sector, already one of the largest in the world, is undergoing a profound transformation. A study
named "a report on future talent requirements in logistics"
by a group of academics and experts in the logistics sector reveals that the sector is set to reach a market value of
47.

The logistics sector in India is poised for significant growth, with projections estimating it will reach a value of 47.12 lakh crore by 2030, according to a study by Redseer Strategy Consultants. This expansion is driven by a combination of technological advancements and policy reforms. Key factors include the implementation of the National Logistics Policy (NLP) which aims to reduce logistics costs from 14% to 8% of GDP, and the adoption of technologies like IoT, AI, and blockchain for enhancing efficiency, transparency, and reducing costs. Additionally, infrastructure development, including dedicated freight corridors and multi-modal logistics parks, along with digital initiatives like the Unified Logistics Interface Platform (ULIP), are set to streamline operations. The study also highlights the role of government initiatives like PM Gati Shakti and the Sagarmala project in fostering this growth, alongside the increasing demand from sectors like e-commerce, manufacturing, and retail.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/economy/india-s-logistics-sector-to-reach-47-12-lakh-crore-by-2030-driven-by-technology-and-policy-reforms-study/ar-AA1vcaEr ]