As tech-powered solutions automate and optimise previously analogue models of operation, India experiences the domino effect of organising an industry that facilitates all other industries. The nation’s ‘ease of doing business’ ranking by World Bank bounced up 30 spots, placing India in the Top 100 business-friendly countries on the planet.
Logistics costs India roughly 14.4% of GDP. A proportion that is nearly double that of organised markets. The billions lost in inefficiency also accrue the opportunity costs of forfeited revenues and investments across the nation’s economic fabric. Transportation is the neural network of the nation’s social and commercial well being. Looking beyond the ledger, the logistics industry influences core aspects of consumer lifestyles and behaviour. It follows naturally, that organised logistics multiplies efficiency and advancement in all other markets.
Reforms such as paperless customs processes, gate procedures, RFID enabled container tracking and other digitally driven transformations have improved trucking productivity.
Electronic and mobile platforms governing coordination, shorten border compliance times, reduce margins of error and free up resources to increase handling capacity. Technologies such as Numadic‘s supply chain visibility solutions have dramatically helped large consignors reduce wastage, improve transparency and curb corruption.
The government acknowledges the role of stakeholders in fostering this abrupt improvement.
Through widespread consultations industry natives assessed user needs, revamped regulations to suit trade requirements while streamlining operations to create a “more conducive business environment.”
India continues manifesting ambitious overhauls that will implement smart cargo handling processes at ports and building over 80,000 kilometres of roads that will ease both domestic and transnational freight movement. As supply chains grow more integrated, transparent and cost-efficient, organised logistics players stand to be the chief benefactors of this snowballing change.