The backbone of the economy turns stronger and in return strengthens the other sectors of the industries. The innovation of technology in the logistics industry has sprouted loads of progress in the operations and various systems. Technology such as artificial intelligence, machine learning and the IoT are meant to move the foundations of traditional and old-school logistics operations in the country.
Several entities from various industries are heavily relying on the Indian logistics industry to help them in serving the customized demands of the customer base. This will help the logistics industry to reach a CAGR of over 7% by the end of the year 2022. Indian logistics as an industry has come a long way and is expected to keep a significant upturn in performance on the world’s platform.
According to an IBEF (Indian Brand Equity Foundation) study, the logistics sector is poised to reach $215 billion by 2020, while it might attract investments worth $500 billion by 2025. Logistics industry is expected to reach over $ 2 billion by 2019. Rise of e-commerce logistics and increased domestic consumption will pave the way for the industry to grow further in future.