The rise of digitalization and globalization has made logistics and supply chain companies in India a crucial sector in boosting international trade. It is rapidly evolving and has always been considered the backbone of the Indian economy. It is because it ensures, quick, efficient, and economical transport of goods all across India, and mostly every commercial sector relies on it.
According to the report of Business Line, it is expected that the logistics sector is going to create 3 million jobs in 2022, and transport services India alone 63 percent of it. It includes inbound and outbound transportation, fleet management, warehousing, material handling, order fulfilment, inventory management, etc.
How a Transportation Company in India is helping the Indian Economy?
The ecommerce market has gained tremendous attention and investment after simplifying their transport services India. With the help of Transportation Company in India and their services, the Indian economy has achieved a lot.
- The development of the logistics industry enabled the transportation sector to gain competitive advantages globally. According to Ken Research, instead of creating millions of jobs, the logistics and supply chain companies in India are expected to reach 492.4 billion rupees by 2025.
- Some of the factors like improvement in quality, cost, delivery, and flexibility had made the environment relatively competitive. The efficient logistics management and online transportation services have made this possible and contributed to reducing operational costs, enhanced customer satisfaction, and better delivery performance. Therefore, it is most efficient in boosting the economy of the country.
- The growth of the logistics sector and online marketplaces in different cities leads to the growth in this industry, thereby increasing competitiveness among other nations.
- Some factors like high demand, foreign exchange investments, digitalization, and eCommerce growth have a hand in the development of the transportation and logistics sector. Moreover, the increase in foreign trade and the rise of online transportation service providers are some factors that result in serving as many people as possible and increasing our Indian economy. This even answers the question of How The Best Logistics Companies in India Optimize Their Logistics Operations.
- The expansion of the logistics and transportation marketplace plays a significant role in the growth of our economy. Logistics tend to combine all the elements of production with the manufacturers and consumers creating economies of both scope and scale.
- Indian economy gets support from this sector when they generate employment, national income, and foreign investment influx. Nowadays, integrated technology is trending in this sector. It is because earlier, the logistics sector was considered low-skilled. But, as soon as they integrated digital technologies and MSMEs in their operation, it became attractive career options. It adopted digital marketing and cope up with the demands using order planning, systematic sales, etc. this increases the need of hiring people for new job roles like book assistants, warehouse packers, courier delivery executives, and many more. It has equal opportunities for women employees in the industry too.
- The logistics and supply chain industry are basically dependent on the two most unorganized sectors, i.e., transportation and warehousing. However, the sector has seen a drastic improvement in its services after implementing digitization. This way, they boost up the economy and speed up the process of delivering goods, and improve international relations.
Although the logistics industries are helping the government in boosting their profits today, we cannot deny that about 13 percent of the GDP is spent on this sector. Like other developed nations, the expenditure should be brought down by 9 to 10 percent and allow the economy to avail maximum benefits from this.
Conclusion
In this blog, we have shed a light on how Indian logistics and supply chain companies are impacting the country’s economy positively. This has changed the way people perceived this sector earlier. Since it has implemented advanced technology in their industry, their entire process has become more reliable, efficient, and effortless. It is an intensive process that requires the support of labor, warehouse management, and information systems.