National Logistics Day: Decoding role of 3PL and 4PL service providers - ITLN

The logistics sector in India is booming, with a market value of $250 billion in 2021, predicted to reach $380 billion by 2025. This sector has become crucial for the Indian economy, especially after the pandemic. The government is focusing on developing a cost-effective logistics and warehousing sector through the National Logistic policy. However, a holistic approach is needed, including the development of the entire supply chain. The 3PL and 4PL service providers are driving the transformation of the Indian logistics sector, with the India 3PL market size estimated at $37.31 billion in 2023, expected to reach $53.02 billion by 2028. Challenges need to be addressed, but there are opportunities to accelerate growth, such as developing manpower skills and emerging logistics tech start-ups. The NLP framework and foreign direct investment in warehouse infrastructure contribute to the sector's development. By addressing challenges and capitalizing on opportunities, India can build a robust logistics sector and achieve its goal of becoming a $5 trillion economy.

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