Wednesday, September 30, 2009

Indian Freight Industry Value to Increase By 17 Percent Next Year

Logistics Traffic Anticipated to Top $125 Billion by 2010
Shipping News Feature

INDIA – A paper released by the Associated Chamber of Commerce and Industry of India (Assocham) has stated that it believes that the Indian logistics industry is to increase its value by 17% in the next year to become a $125 billion industry.

In ‘Building Logistics for Competitive Business’ the organisation also concludes that the 3PL market in India, a comparatively new concept to Indian companies but one that is rapidly taking hold, is projected to be worth $90 million by 2012.

According to Assocham the 3PL industry has seen a boom in the last decade with, the magazine claims, around 55% of Indian companies now outsourcing logistic services like supply chain management and warehousing in comparison to 10-15 per cent ten years ago.

As India modernises its production with more complicated goods being made it seems likely that specialist expertise as offered by 3PL providers will indeed be in greater demand in the next decade.