It’s LOGIX-al once again
The 2nd LOGIX India 2019 – International Buyer Seller Meet saw more than 120 international delegates from 26 countries develop superior logistics linkages with their Indian counterparts. The event also focused on investment in infrastructure development, warehouse consolidation, technology integration and IT enablement, skilling, etc.
The three-day mega event saw well over 3500 business-tobusiness meetings along with parallel sessions on different issues, challenges and above all, opportunities in the logistics sector across India and the world. Inaugurating the event, Som Parkash, Minister of State for Commerce & Industry, Government of India, said, “Logistics is the backbone of any trade and industry. Currently, the logistics cost in India is 30-40 per cent higher than the global benchmark, which is a big challenge for the government. However, the government aims at reducing it to 10 per cent of the GDP. The government is also planning to invest around `100
lakh crore in logistics infrastructure in the next five years. We are also in the process of coming out with a new National Logistics Policy and creating a databank by getting feedback from different stakeholders.”
While addressing the gathering, Mahesh Chandra Keyal, Vice President, FIEO, stated, “Without efficient logistics, it is impossible to be successful in marketing, production and international trade. In advanced industrial societies, logistics competence is of great importance and customers expect that the products they bought will be delivered as promised.”
Ajay Sahai, Director General & CEO, FIEO, in his inaugural address, said, “India is making significant progress in various fields like improvement of quality of transport and logistics infrastructure, efficiency of regulatory processes, safety and security of cargo movement, as well as ease of arranging logistics at competitive prices. We are also imporving in ease of track and trace, timeliness of cargo delivery and in the overall quality of services offered by logistics service providers. The favourability of operating environment and acceptability of best global practices in the entire logistics chain are also important factors.”
“India needs to almost double its annual spending on infrastructure at US$ 200 billion and in order to achieve the target of a US$ 10 trillion economy by 2032, a robust and resilient logistics infrastructure system is required, supported by adequate private investment. The increasing maturity of the logistics sector, as it embeds itself in India’s economic growth story, lends to the emergence of complex value chains across various subsectors, such as transportation, supply chain management, warehousing & distribution,” added Sahai.
Speaking at the last session, Anant Swarup, Joint Secretary (Logistics), Department of Commerce, Government of India, said, “The projected CAGR of logistics is over 10 per cent. The government’s role is to provide infrastructure and policy support. The need of the hour is to have an endto-end solution for cost-effective and efficient logistics, and the government is working on further improving port and airport efficiency, thereby improving the sector overall.”