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INTRO AND RECENT SCENARIO 3 ARTICLE

INTRO AND RECENT SCENARIO 3 ARTICLE

Logistics are considered as the principal strength of the economy, that provides the efficiency and cost-effectiveness in the flow of goods to fulfill the demand of other commercial sectors. The industry of logistics is growing at fast pace in India; it acts as the interplay of technology, infrastructure and other new service providers which demonstrates that logistics sector is capable of providing the reduced cost to its customers along with adequate services. 

Regardless of the weak economic tendency, this industry is witnessing humungous growth due to the development in the retail, manufacturing and e-commerce sectors. The global logistics industry was anticipated to grow by 10-15% from 2013 to 2014, and now it is expected to cross USD 2 billion by 2019. The growth of e-commerce logistics and an elevated rate of domestic consumption will guide the functioning way for the industry in the upcoming years. The service-oriented logistics industry is also showing promising improvements and seems to expand its growth in the future. 
Recent Scenario

The present Indian logistics sector consists of outbound and inbound fragments of supply chain service and manufacturing. In recent years, the infrastructure of the logistics field has magnetized the attention of business sector and policymakers. The inefficient logistics infrastructure has a repercussion of forming a bottleneck in the progress of the economy. The systematic plan of logistics management enhances the capability of surmounting the drawbacks of infrastructure in a very short run while promoting the competitive edges in the long term. There are various golden opportunities and challenges for the logistics industry in the Indian economy sector.

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