Logistics Industry

Union minister Nitin Gadkari on Wednesday said the logistics cost in India will come down to 9 per cent within two years. Speaking during bauma Conexpo India, the Road Transport and Highways Minister said that "presently our logistics cost is 14-16 per cent... I assure you that within two years... our logistics cost will be 9 per cent. So we will be more competitive in the international market." In China, the logistics cost is 8 per cent and in the US and European countries it is 12 per cent, the minister said. The minister further said the automobile industry is one of the important industries that is giving maximum revenue as part of GST to the state governments and the Centre. The role of the automobile industry is very important to make India a USD 5 trillion economy, he said. The construction equipment, he said, is also part of this automobile industry. The government is developing infrastructure of international standards, he said, adding that water, power, transport and ..

Thakur noted that the plan aligns with the government's Ease of Doing Business (EoDB) agenda and India's goal of achieving carbon Net Zero by 2070

The expectations for service operating profit margin in PTL is set to reach 16-17 per cent, excluding yield improvements, driven by volume growth

Besides MNCs, the top 30 list also includes two public-sector companies: Orissa Mining Corporation and HLL Life Care

'A case study is being carried out across ministries by a dedicated wing which consists of experts to figure out the AI use cases under AI mission,' a senior government official said

World Bank incorporating more data to make LPI comprehensive

Indian freight and logistics market is estimated to grow at 8.8 per cent annually to USD 484.43 billion by 2029 from USD 317.26 billion in 2024 due to technological advancement, as per a report released at logistic fair LogiMAT India. LogiMAT India 2024, the satellite show of Europe's biggest intralogistics exhibition LogiMAT Stuttgart, is organised by Messe Stuttgart India Pvt Ltd on February 28-March 1 at India Expo Mart. According to a statement, the integration of cutting-edge technologies and advancements in intralogistics, automation, warehousing, and transportation management heralds a transformative era for the logistics sector in India. Indian freight and logistics market is poised for remarkable growth. LogiMAT India 2024 projections indicate a surge in market size to USD 317.26 billion by 2024, with a projected CAGR of 8.83 per cent, catapulting it to USD 484.43 billion by 2029. This surge not only signifies robust economic expansion but also holds the promise of ...

Leasing of warehousing spaces in three major southern cities -- Bengaluru, Hyderabad, and Chennai -- fell 5 per cent to 10.2 million square feet during the last year on subdued demand, according to Vestian. During the 2022 calendar year, the total leasing of warehousing space in these three cities stood at 10.7 million square feet. Third-party logistics firms, engineering & manufacturing companies, and e-commerce players take warehousing spaces on lease and are major demand drivers. Real estate consultant Vestian data showed that the share of these three southern cities fell to 27 per cent in 2023 from 34 per cent in the previous year. Across seven major cities, the leasing of warehousing and logistics spaces grew 21 per cent to 37.8 million square feet in 2023 from 31.2 million square feet in the previous year. Among cities, the demand in Bengaluru fell to 3.6 million square feet from 4.1 million square feet. Hyderabad too witnessed a fall at 3.1 million square feet as against .

Stellar Q3 results, strategic buys position firm for continued success in beverage market

Logistics and warehousing exhibition platform LogiMAT India on Friday said it partnered with Gati Shakti Vishwavidyalaya to foster knowledge transfer, skill development and innovation to help create one crore jobs in the sector by 2027. Gati Shakti Vishwavidyalaya, a central university at Vadodra in Gujarat, provides transport and logistics skill training. The logistics industry in India is one of the largest employment sectors, providing livelihoods to over 22 million people, and the sector is estimated to add 1 crore jobs by 2027, LogiMAT said in a statement. The collaboration between LogiMAT India and Gati Shakti Vishwavidyalaya aims to foster a robust exchange of knowledge, promote skill development initiatives, and foster innovation, it said. LogiMAT also said an exhibition, LogiMAT India 2024, will be held at the India Expo Mart, Greater Noida in the national capital region from February 28 to March 1. Being organised by Messe Stuttgart India, the LogiMAT India 2024 is expec

As India focuses on reducing the cost, it is important to get the numbers right

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The company operates within the highly competitive express logistics industry which boasts a total addressable market opportunity in excess of Rs 1.5 trillion

Andhra Pradesh, Karnataka, Tamil Nadu, Chandigarh, and Gujarat are among the 13 states and Union Territories that have again been categorised as "achievers" in the logistics index chart 2023, according to a report released by the Commerce and Industry Ministry on Saturday. The index is an indicator of the efficiency of logistical services necessary for promoting exports and economic growth. As against 15 states and UTs, this year, the number has reduced to 13 as Himachal Pradesh and Uttarakhand have slipped into "aspirers" and "fast movers" categories, respectively, this year. Steps taken by Sikkim and Tripura have helped them move up the ladder to the "achievers" category from "fast movers" in 2022. The other states and UTs in the "achievers" category are Delhi, Assam, Haryana, Punjab, Telangana, and Uttar Pradesh. Kerala, Maharashtra, Madhya Pradesh, Rajasthan, Uttarakhand, Arunachal Pradesh, Nagaland, Andaman and Nicobar, Lakshadweep, and Puducherry have been categorised as "fa

The World Bank has also reviewed the methodology and has acknowledged it has an appropriate baseline and framework to fine-tune it in the future, government officials said on Thursday

According to the World Bank's Logistics Performance Index, India ranked 38th out of 139 countries in 2023, helped by improving road and port networks and digitisation of the supply chains

The government is expected to release a framework to assess the logistics cost in the country to get a realistic estimate tomorrow, an official has said. At present, the government is going by certain estimates, suggesting India's logistics cost stands at about 13-14 per cent of the country's GDP (gross domestic product). Sumita Dawra, Special Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), had earlier stated that the government is coming out with its logistics cost framework. The framework would include elements of this cost and how to measure that. Acknowledging the necessity for targeted policy interventions, a report containing baseline aggregated logistics cost estimates; and a framework for long-term logistics cost calculation is now ready and has been reviewed by external experts from the World Bank, the official said. "This comprehensive report is scheduled for the launch on December 14," the official added. The objective of this endeavou

In the last one year, as envisaged by the Prime Minister, social sector ministries have also started using the Gati Shakti NMP in innovative ways

XpressBees' technology-driven approach allows seamless integration with online marketplaces and retailers. This enhances the end-to-end customer experience

As many as 11 ministries and departments, including industry, railways and ports, held deliberations on measures taken and action plans needed for improving India's Logistics Performance Index (LPI) ranking, an official statement said on Saturday. Sumita Dawra, Special Secretary (Logistics) in the Department for Promotion of Industry and Internal Trade (DPIIT) said that a targeted action plan is important to improve the logistics efficiency of the country and India's ranking in the World Bank LPI. She added that the measures taken by the stakeholder ministries and departments will be showcased to the World Bank LPI team. These discussions happen every fortnight to assess the measures taken and outcomes achieved in improving performance across six parameters of LPI including customs, infrastructure, ease of arranging shipments quality of logistics services, tracking and tracing and timeliness. The DPIIT said that in the meeting Land Ports Authority of India (LPAI), highlighted that