Indian logistics industry adapting to new realities

 The logistics industry in India -especially the last-mile delivery system—is experiencing significant growth at present raising expectations of an eventful 2024. An India Brand Equity Foundation (IBEF) report says the logistics market will reach an impressive US$ 380 billion by 2025, with a YoY growth rate of 10%-12%. Moreover, the government is looking to bring down the logistics and supply chain costs from 13-14% to 10% of the GDP. Key players are adopting the latest technologies to enhance customer experience. The logistics sector recognizes the importance of streamlining cargo movement in a fast-paced environment. As a result, companies are keen on integrating new technologies for comprehensive management and strategic planning to be able to cater to the growing demands.