Indian E-Logistics Sector To Soon Reach $9 Bn Soars Globally
Date
10/31/2022 2:07:25 PM
(MENAFN- KNN India)
Indian e-logistics sector to soon reach $9 bn; soars globally New Delhi, Oct 31 (KNN) India's
e-logistics
sector is all set to touch the USD 9 billion industry as it has become one of the largest and fastest growing logistics markets globally, said a report on Monday.
It will be based on a compound annual growth rate of 35 per cent.
The number of e-commerce logistics shipments is expected to grow by four times in the next five years, said the report by Bengaluru-based
Redseer Strategy Consultants.
According to the report, small- and medium-sized businesses (SMBs) now find it easier to transport goods owing to the new-age tech-enabled players who have entered
India's logistics arena.
There is a drastic increase in the speed and efficiency in which parcels are delivered, it noted.
The report finds Delhivery well positioned among such players at the cross-section of the various logistics sector growth drivers including infrastructure, offline commerce, digital consumption, and adoption of technology and data sciences.
As per the report, the availability of multiple payment options such as
UPI, no-cost
EMI, BNPL (buy now, pay later) etc. are further driving the adoption of digital commerce by more consumers, thereby creating a need for e-commerce logistics.
(KNN Bureau)
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