3 key areas that will drive growth in India’s logistics sector in 2019
The Indian logistics sector is presently estimated to be worth around $160 billion and is poised to grow phenomenally over the next two years and reach a size of $215 billion by 2020.
The government has reiterated its steadfast commitment to modernizing the functionalities of Indian logistics with a key focus on infrastructure development. To improve supply chain efficiencies and enhance connectivity to help logistics players tap the underleveraged markets in the country’s hinterlands, key infrastructure development projects have been rolled out.
The ambitious Bharatmala project holds the promise of strengthening the countrywide road network and improving connectivity with the interior and backward areas of the country. The Sagarmala initiative is a key step in doubling India’s coastal shipping share in the country’s broader modal mix and aims at formulating a comprehensive shipping policy and optimizing the country’s maritime assets. It places heavy emphasis on improving maritime linkages and promoting port-led industrial development by setting up industrial clusters and manufacturing hubs along coastal zones.