Cold Chain Logistics to grow at 27% by 2019
As per a report prepared with inputs from industry experts, ‘Cold Chain Logistics Market in India 2015-2019’ will grow at a CAGR of 27% over from 20142019. The report also covers discussion on the key vendors operating in the Cold Chain Logistics Market in India.
The report has also given details of the segments in Cold Chain Logistics market in India which includes Temperature-controlled Warehouses and Temperature-controlled Vehicles. Besides a detailed segmentation, the report also talks about the leading sector, emerging sectors, along with their growth statistics. It also analyses the market dynamics, includes the top drivers supporting market growth and key restraints hampering growth.
Players in the India market are now looking at expansion in emerging regions. It answers questions such as What will the expected Compound Annual Growth Rate For "Global E-Waste Market in India Market"? And more.
The central government is planning to build a mega-transhipment hub at a cost of over 5,000 crore to reduce India's dependence on the ports at Colombo and Singapore for handling cargo traffic. This transhipment hub is expected to come up near Tuticorin in Tamil Nadu near the international trading route. At present, these ports handle most of the container movement as the Indian ports cannot handle larger vessels. India is also wary of China's growing influence at Colombo port. Colombo and Singapore together account for around 66 per cent of containers trans-shipped from India.
"We need to cut dependence of east coast cargo on Colombo by building a container port near the international shipping route. This would also benefit Indian traders as their cost would come down. The smaller feeder vessels will bring con- tainer cargo, which then will be loaded onto larger ships," a senior government official said.
The new container handling facility will not only reduce the logistics cost by around 10 per cent but will also bring down the travel time substantially. The capacity of the terminal is expected to be over one million twenty equivalent unit (TEUs), which will increase four times in phases in the coming years as more berths are added.
India is also likely to provide cabotage relaxation at the new hub. This means foreign liners would be able to transport goods from one Indian port to another without paying additional tax. India is also planning to build five new ports at an investment of around
25,000 crore. New sites for these are being finalised in West Bengal, Maharashtra, Tamil Nadu, Karnataka and Andhra Pradesh. These will double the country's cargo handling capacity to 2000 MT.