The Indian logistics industry has been gaining traction with ecommerce penetration, revival of the economy, and the proposed GST implementation, said J M Baxi & Co Chief Executive Officer Nandan Yalgi, highlighting the growth opportunities in the industry.
Speaking at Business opportunities in a growing Indian economy — Logistics at People of Indian Origin Chamber of Commerce and Industry (PIOCCI) Conlave 2017, conducted in conjunction with the Pravasi Bharatiya Divas on Friday, Baxi said, the country’s logistics industry is projected to grow at a CAGR of 15-20% during FY18-FY20, and India’s Logistic Performance Index (LPI) has jumped up to the 19th position from 54th, as per LPI 2016 by World Bank.
Talking about cold chain, he said the industry has been growing at a CAGR of 20% for the last three years, and the cold chain market in India is anticipated to reach Rs 62,400 crore by 2017.
“India today has very fragmented warehousing, with state-of-the-art warehousing facilities missing. Investments could come up in a big way in this particular area,” he said.
Indian Ports Association Advisor (International Projects) Atul Kulkarni said, “We need a mega trans-shipment terminal, which will come up in Colachel.”
Earlier, speaking at the inauguration, Large and Medium-scale Industries Minister R V Deshpande said the conclave was a great opportunity for both the Indian diaspora and the Karnataka government.
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