The study gathered insights from 1,300 decision-makers in some of the best logistics companies in India in the transportation and logistics (T&L) sector.
One significant finding from the study is the ongoing challenge faced by Indian logistics firms in achieving end-to-end asset tracking and shipment visibility, even three years after the pandemic began. Technology implementation hurdles have been identified as the major barrier hindering real-time supply chain visibility, despite the inherent motivation to enhance customer satisfaction and financial benefits.
The Indian logistics industry, known for its fragmentation, is experiencing rapid growth and transformation. With logistics costs accounting for approximately 14% of the country's GDP (gross domestic product), the introduction of the National Logistics Policy (NLP) aims to reduce this cost to around 8% by 2030, enhancing the industry's competitiveness.
The study emphasizes the need for integration and aggregation of data within India's logistics ecosystem to unlock its full potential. By leveraging location technology and unifying disparate data sets, the industry can derive value from shared information, driving improvements in the logistics sector as a whole.
Industry experts recognize the critical role of the logistics sector in India's economic growth. Leading IT services provider TCS, in collaboration with HERE Technologies, aims to facilitate digital transformation and growth within the logistics sector. Their partnership combines HERE's advanced location intelligence platform with TCS' logistics solution, Digifleet, empowering businesses with real-time visibility and actionable insights.
In this dynamic landscape, Indian logistics companies are seeking innovative ways to enhance their services and stay ahead. As one of the best logistics companies in India, Cosmo Shipping Services continues to drive industry advancements, embracing emerging technologies and delivering exceptional value to its customers.\