In a time of rapid globalisation, timely and speedy movement of goods is imperative for the sustenance of the economic growth. The Indian air cargo industry plays a critical role in augmenting global trade, while simultaneously helping India to get future-ready. Use of IoT and advanced machine learning technology in cargo handling is one such example.
The Global Ranking of the World Bank’s 2016 Logistics Performance Index shows that India rose to the 35th position in 2016 from 54th in 2014 in terms of overall logistics performance. The Indian logistics sector is worth close to US$ 160 Billion, and has grown at a CAGR of 7.8 per cent in last 5 years. The sector employs a workforce of over 22 million people.
It is expected that the Indian logistics market will reach nearly US$ 215 Billion by 2020, resulting from a CAGR of 10.5 %. In recognition of the vital nature of the logistics sector, the Department of Commerce has set up a new Logistics Division in order to foster the integrated development of the sector.
Apart from augmenting trade, better logistical performance will position India as key player on the global supply chain landscape. Artificial Intelligence applications coupled with block chain advancement and use of robotics will re-shape global supply chain and aviation logistics in the next decade.
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December 19, 2020
Logistics Insider
The International Air Transport Association (IATA) has awarded Mumbai CSC Cold Chain Solutions (a CSC India group company) with the prestigious CEIV IATA Pharma Certification READ MORE
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PTI, Singapore
Singapore has received its first shipment of Covid-19 vaccines, making it the first country in Asia to take the vaccine developed by Pfizer and BioNTech..... READ MORE

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