Young Turks: Logistics market expected to quadruple by 2027 in India; experts discuss COVID challenges and road ahead
In the past year, the COVID-19 pandemic has fuelled an unprecedented growth in India’s e-commerce market, led by increased internet penetration, rise in adoption of digital payments, demand from new markets and the emergence of several new firms on social media.
Digital commerce with same-or next-day deliveries, no-questions-asked returns, and omnichannel retail has turned out to be a game-changer for the warehousing and logistics sector. And as these online retailers expand into newer geographies on the back of a surge in demand, there is a need for alternative warehousing opportunities to ensure business continuity.
According to a report by data analytics firm Research and Markets, India’s e-commerce logistics market is expected to almost quadruple to $11.48 billion by 2027 from $2.93 billion in 2019, growing at a rate of 18.8 per cent from 2020 to 2027.
The need for grade-A warehousing has ensured these facilities evolve from the godowns of yesterday into state-of-the-art fulfilment centers that are able to cater to the needs of e-commerce players of all shapes and sizes, reduce delivery times, and of course use tech to enable cost efficiencies that can help these companies scale to meet the growing demand of goods across India.
Amitava Saha, Founder & CEO, Xpressbees, Angad Kikla, co-founder, CityMall and Harsh Vaidya, CEO & co-founder of WareIQ, to discuss India’s logistic market, COVID challenges and the road ahead.