Understanding the importance of multi-modal logistics, the Union Minister of Road Transport & Highways and Shipping brought in the Integrated, Multi-Modal Logistics and Transport Policy, to reduce logistics costs in the country by nearly half. In addition to this, the involvement of aviation in the multi-modal logistics hub policy proved to be a landmark move by the Indian government. The sector has shown its excitement and optimism towards this move, but, it needs to be chalked out within a definite time frame.
As the Goods and Service Tax (GST) is around the corner, there are vital concerns for its proper implementation. Associations are playing an active role by addressing the concerns of the members for smooth functioning of the much-awaited tax regime.
On the maritime front, shipping lines and ports are gung-ho for a secure movement of cargo. The industry is inculcating latest and updated technology to enable effortless, swift and efficient cargo clearance, while promoting ease of doing business.
Numerous companies in the sector are increasingly adopting green initiatives to deliver high quality time, definite services with a reduced cost. There is more focus to enhance the sector within a holistic environment.
A surge in the number of start-ups investing in the logistics sector is allowing the industry to move to a more efficient business model.
Currently, start-ups are exploring different verticals, such as technology, methodology, and more. Focusing on the challenges like intermodal connect and document automation, to name a few, suitable solutions have been initiated to build a robust system.