India is being touted as the land of opportunity for logistics service providers all over the world. The demand for logistics services in India has been largely driven by the remarkable growth of the economy, projected to grow at 9-10 per cent in next few years. The Indian Logistics Market is expected to grow at a CAGR (compounded annual growth rate) of 7-8 per cent. It is felt that the growth will continue, and might even scale newer heights, as the economy is experiencing a retail boom with Western companies such as Metro, Wal-Mart planning to start their operations in the country, and large local retailers such as Shoppers Stop, Pantaloon, RPG and Big Bazaar planning to expand their operations in smaller cities.
India's spending on logistics industry is much higher than the developed economies like the US (9.5%) and Japan (10.5%). With lots of scope and growth in areas of Air Cargo, Marine, Rail and Roadways, the Indian Logistics Industry is there to grow at a fast pace. Among the factors cited by analysts for the rapid growth of Indian logistics include the growth of organized retail industry, commodity markets, growth in manufacturing and development of Special Economic Zones. (SEZ). About 110 logistics parks spread over approximately 3,500 acres at an estimated cost of $1 bn are expected to be operational and an estimated 45 mn sq ft of warehousing space with an investment of $500 mn is expected to be developed by various logistics companies by 2012. With the various scopes and opportunities, competition becomes a stiff reason for the various logistic companies.
At Signature Staff, our team of experts provides customized and personalized solutions to our clients and ensures them to actively take part in the ongoing competitive race. Some of our valuable clients are World Transport, SDV International Logistics, Geodis overseas, Agility Logistics, Writer Corporation, Allcargo Global Logistics, Continental Carriers and many more.