Top Trends Driving Business Operations in 2023: Revolutionising Logistics in India

The logistics industry in India has made remarkable progress, as evidenced by the country’s rise of six positions in the World Bank’s Logistics Performance Index (LPI). This advancement is attributed to a variety of factors, including technological advancement, data-driven decision-making, and policy initiatives aimed at facilitating world-class infrastructure. Earlier this year, the government increased the Union Budget allocation for capital investment by 33% for 2023-24, totaling INR 10 trillion. The logistics industry has warmly welcomed this development, which is expected to strengthen India’s position in the global supply chain by prioritising infrastructure development.

Improving logistics performance can be a critical factor in a country’s economic growth, allowing businesses to increase trade competitiveness, cut costs, and improve supply chain efficiency. This not only increases productivity and customer satisfaction, but it also attracts foreign investment by creating a favourable business environment. Logistics improvements help businesses optimise their operations and increase profits by reducing lead times, lowering transportation costs, and improving inventory management.