Need to buttress 3PL services: Jeena & Co
Inadequate use of available technologies is major bottleneck which needs to change for logistics industry to grow. Government initiatives, to large extent, will help industry with strong financial backing that industry needs right now, according to Cyrus Katgara, Partner, Jeena & Co and President, Air Cargo Forum India.
What are the new opportunities that you are looking forward to for growth in 2022?
According to different experts, the Indian logistics industry is expected to reach US$300 billion by the year 2025. Therefore, those 3PL companies that provide warehouses in multiple locations will have greater demand, as that would mean more efficient last-mile logistics with value added services, and a much faster turnaround time (TAT). We are also working in a planned manner to strengthen our 3PL services as well as division in order to gain a bigger slice of the huge market segment.
What do you think has been your biggest learning moment during the pandemic?
Our biggest learning has been the digitalisation of our processes and going paperless. The ongoing pandemic has taught us to work cutting through many layers of processes and bureaucracy in making the supply chains work in a new controlled environment. This has been made possible only with the help of technology advancement.
Digitalisation will now be an essential if not crucial means of doing business and accordingly, we have put all our digital technology-related projects on the fast track mode,. In this way, we have completed a majority of the projects.
There are other issues such as difference in excise policies and customs procedures, slow infrastructure development and stringent rules and regulations which also need to change
What is that one thing that needs to change in order for the industry to grow?
Inadequate use of the available technologies is one of the major bottlenecks that need an urgent transformation for the industry to grow. There are other issues such as difference in excise policies and customs procedures, slow infrastructure development and stringent regulations which also need to change for the logistics sector to boom.
What sectors, do you think will grow the rapidly and why?
I expect Automobile, Textile, Healthcare and Chemical sectors to outgrow every other sector in the country. The government initiatives such as the Production linked incentive plan, sanctions on the Chinese textiles, cent per cent foreign direct investment (FDI) through automated methods are a few of the reasons to assit the faster growth of these sectors.