Wave of hope

India is a vast country and so is the dynamics of its logistics sector. As the government has started initiating solutions to the problems that cargo agents, airlines, shipping lines, air and sea port operators are facing, it is also the responsibility of the industry to deliberate and turn up with the solutions. The industry has finally received the long pending ‘infrastructure status’ this year. This will not only develop an integrated logistics framework in the country but also enable the industry to access cheaper finances.

As the year comes to an end, there is a wave of hope in the industry for better yields and more innovations. Despite the challenges like implementation of GST and demonetisation, the Indian logistics industry seems to be ending on a decent note. It was not a smooth ride to face the cash crunch in the economy due to demonetisation and the GST tax regime; it was rather an achievement to survive and run the business successfully. The industry now is ready with new goals for 2018, including many reforms that would ease business for the players.

On the shipping front, with the Bharatmala project, the government has taken a major step towards economic growth with regards to logistics. The vision of constructing 83,000 km of highways will connect almost all the border states of India including the remotest areas. The government has also put in a huge investment to strengthen the logistics infrastructure.

Along these lines, there is improvement in every vertical of the logistics industry which is a sign that the industry and government both are making efforts to make the sector on a par with international standards.