India Cargo Terminal Expo 2024 will be held on 03rd to 05th Oct 2024 at Yashobhoomi IICC, Dwarka, New Delhi, India. The Indian logistics industry has been witnessing accelerated growth over the past few years led by policy reforms, digital transformation and creation of support infrastructure. The sector is going through a paradigm shift and seeing several positive developments. The government has launched key initiatives including Gati Shakti Master Plan and 100 critical transport infrastructure projects for first and last-mile connectivity, to reduce the countryâs logistics cost and ramping up infrastructure.
The logistics market, pegged at ~$250 billion, is expected to grow at a CAGR of 10-12%. The shift to organised from the unorganised sector (~90% currently) would be an additional propeller. The demand for value added services such as 3PL and express is on the rise. Nearly one-third of Indiaâs logistics costs is transport and storage related inefficiencies. The government targets to bring down the logistics cost from around 13% of the GDP to 8% in the times to come.
Big-ticket projects such as dedicated freight corridors, cargo terminals, industrial corridors, port connectivity and port modernisation projects under Sagarmala programme, and greenfield expressways under Bharatmala Pariyojana will contribute significantly to countryâs logistics sector growth. The industry is expected to cross $450 billion by 2030, presenting a host of opportunities for logistics service providers, warehouse developers, technology providers, material and equipment suppliers, etc.
Going forward, China+1 strategy and production-linked incentives will pave way for greater manufacturing activity in the country, stimulating demand for warehouses. Multi-storey warehousing and multi-purpose cold storage facilities will emerge as the future of warehousing.