India logistics to hit $125 billion by 2010
The Indian logistics industry is poised to become a US$125 billion industry by 2010, an increase of around 17 per cent, from the current level, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM), which has a membership of more than 20,0000companies and professionals. The optimistic forecast came in a recently-circulated paper, […]
December 1, 2009
The optimistic forecast came in a recently-circulated paper, Ã¢â‚¬ËœBuilding Logistics for Competitive BusinessÃ¢â‚¬™ from ASSOCHAM. The paper also forecast the outsourcing of 3rd party logistics business (3PL) in India was set to hit the $90 million mark by 2012.
The 3PL concept is being adopted by around 55 per cent of Indian companies, which are outsourcing logistics services like supply chain management and warehousing, which used to be between 10-15 per cent, ten years ago, according to the paper. With the expansion of globalisation, Indian firms are demanding new logistics capabilities and more complex solutions from their 3PLpartner.