Indian Freight and Logistics Sector to Touch US$ 484.43 Billion by 2029: Report Released at LogiMAT India
#IndianFreight #Logistics #LogiMATIndia“The transformative potential of new technologies and innovations showcased at LogiMAT India is immense. We envision these advancements to not only attract substantial investments to India’s logistics sector but also to create a significant number of jobs, driving economic growth and prosperity.” - Sachin Patil, MD & CEO, Messe Stuttgart India
March 2024 : LogiMAT India, India’s biggest and most extensive logistics exhibition platform for showcasing cutting-edge technologies and innovations in the logistics industry, is set to catalyse significant advancements in India’s logistics sector. The integration of cutting-edge technologies and advancements in intralogistics, automation, warehousing, and transportation management heralds a transformative era for the logistics sector in India.
According to a report released at the logistic fair LogiMAT India 2024, the Indian freight and logistics market is projected to experience a steady annual growth rate of 8.8 per cent, reaching US$484.43 billion by 2029 from US$317.26 billion in 2024, driven by technological advancements. This surge not only signifies robust economic expansion but also holds the promise of substantial job creation and enhanced business scalability.
The integration of robotics, automation, artificial intelligence (AI), and other advanced technologies is expected to revolutionise the way logistics operations are conducted, driving efficiency, productivity, and competitiveness. LogiMAT India foresees a substantial increase in investments in India’s logistics sector, with the adoption of these technologies poised to attract significant capital infusion from domestic and international investors.
Moreover, the deployment of robotics, automation, AI, and other technologies is projected to create a multitude of job opportunities across various segments of the logistics sector. From skilled technicians and engineers to logistics analysts and data scientists, these advancements are expected to create 10 million jobs in India by 2027 and contribute to India’s employment landscape.
“The transformative potential of new technologies and innovations showcased at LogiMAT India is immense,” said Sachin Patil, Managing Director and CEO of Messe Stuttgart India, the organiser of LogiMAT India 2024. “We envision these advancements to not only attract substantial investments to India’s logistics sector but also to create a significant number of jobs, driving economic growth and prosperity.”
Furthermore, these technologies have the potential to scale logistics businesses to unprecedented levels, enabling them to optimize operations, enhance customer service, and achieve greater profitability. By leveraging robotics, automation, AI, and other cutting-edge solutions, logistics companies can streamline processes, reduce costs, and stay ahead of the competition in today’s dynamic business environment.
As LogiMAT India continues to serve as the premier platform for industry stakeholders to explore, collaborate, and innovate, it remains committed to driving positive change and fostering growth within India’s logistics ecosystem.
For more information about LogiMAT India and its role in shaping the future of the logistics industry, please visit www.logimat.in
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