Gone are the days when logistics was just a secondary consideration in the minds of big businesses. Today it has become an imperative part of the supply chain and distribution system. Although the logistics service sector was largely unorganised before, today the growing demand for online deliveries and availability of goods by people has led the industry to grow at a CAGR of 10.5% by 2025.
The sector is expected to employ over 40 million people in India and it is on the path of becoming one of the largest job-creating sectors in the country by 2022.
The rising revolution
After the age of digitization of various businesses, the impact of the pandemic has created various reforms in the way logistics works. Many new players and startups like Delhivery, Rivigo, Blowhorn etc are trying to organise this sector through quality service. The government has incorporated GST and the E-way bill to make processes smoother.
Technology will have a huge role to play in the sector as applications, AI and a horde of other devices like drones, electric vehicles, automated systems, high-tech security and efficient management systems have made the processes much easier for logistics companies as well as their clients.
The COVID-19 crisis has given way for contactless operations and deliveries. Most companies are submitting and sharing documents and updates online. This makes the operations hassle free and fast. One can check real-time updates through developed AI and communicate at the same time.
In terms of infrastructure, India is slowly but surely getting there. Roadways, railways, airways and cargo are seeing growth in the number of transports. More importance is given to skill development for workers and proper training has become the epicentre of quality services.
We’re at a point in the sector where multiple elements like technology, reforms and efforts of players are changing the landscape of logistics. All this endeavor is shedding light on one of the biggest issues that the industry faces: that logistics is not just a secondary consideration.
With government’s policies and the rising demand and supply in the country, we’re bound to see some form of regulations to organise the sector.
Given this scenario, we at Mega have witnessed the struggle for over decades and we can surely and proudly vouch for the good days. With the growing industry, our company is growing too and we’re highly focused on providing customer satisfaction through all our business verticals. With this, we can certainly say that the future of logistics industry is very bright.