How express logistics industry will bolster India's trade and supply journey

economictimes.indiatimes.com:

Amrit Kaal vision sets a roadmap for the country's growth and development. At the heart of this vision is the need to build a prosperous and inclusive economy focusing on infrastructure, innovation, and sustainability. While various sectors will play a role in achieving these goals, the express logistics industry is well-positioned to catalyse India's development in the years ahead.

With the Indian economy opening to the world, the logistics industry has emerged as a critical enabler for trade and commerce. Today, the industry is projected to experience a compound annual growth rate (CAGR) of 10-12%, supported by policy changes and infrastructure upgrades. This growth is expected to enhance India's competitiveness, with the logistics market projected to reach $380 billion by FY25.

In 2022, the Indian air cargo market generated 2.2 million tonnes of traffic, with about 30 percent of the traffic generated in the domestic and the remainder in the international sectors. EY has projected India to become a $26 trillion economy by 2047 and the air cargo industry is well placed to help the country achieve this target. In recent years, international trade has faced numerous challenges, and ongoing volatility can naturally lead to uncertainty.

However, that should not lead to protectionism. On the contrary, we need more integration and cooperation to maintain global trade stability. In fact, according to a Trade Growth Atlas report, international trade in goods has surpassed pre-pandemic levels by as much as 10%, despite the various supply chain issues.