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Logistics and Warehousing industry is headed into right direction, says Sachin Haritash, Founder & CEO, Mavyn

Logistics and Warehousing industry is headed into right direction, says Sachin Haritash, Founder & CEO, Mavyn

What are the major trends that are looking to shape the Logistics & Warehousing industry in the country?
Technology has certainly brought in a sea change in the way Logistics & Warehousing industry functions. The tedious manual process of booking a shipment has finally given way to Artificial Intelligence driven platforms. Not only booking has become easier, the prices are competitive and the shipper can keep a tab on the live coverage of the shipment from start to end. This development has eased the process and relieved the shippers from a lot of unnecessary pressures. On the other side, technology has made payment process easier, faster and more reliable. As an industry, Logistics and Warehousing is headed into right direction and in the coming years we will see a structured growth in this highly unorganized segment. 
 
Has the Logistics sector become the preferred rental class for investors, after commercial office and shopping malls?
Digitization has enabled logistics start-ups to provide ease of shipping with the best rates in the market. More and more organizations are now opting to outsource their logistical needs with the logistics start-ups. This certainly has attracted investors because the business model has immense promise.
 
How does the sector look to shape up in 2020?
According to a report by IBEF, the logistics sector will become a $ 215 billion industry, with a CAGR of 10.5%. This is encouraging, considering that logistics space is dominated by transportation sector, which is over 85%, in terms of value and is expected to remain high. In 2020, we expect more partnerships between logistics and other segments for growth. Along with this, global outreach is something all companies are working towards with the sole motive of making India a global logistical giant.  
 
Has the issue of land acquisition been addressed adequately by the government for the sector to attract bigger players?
The logistics industry is optimistic that government will ease the land acquisition procedures, thereby encouraging both domestic and foreign player to further enhance investments in the sector.
 
What policy initiatives are you looking at in Budget 2020 for the sector?
The government should legalize digital documents such as EPODs and DPODs as it would save paperwork and contribute to environment conservation. Secondly, we want the government to bring in more foreign investment as logistics is becoming a tech-oriented business. In the past, investment by Chinese entrepreneurs in retail, food and technology-based start-ups in India has contributed to the economy’s growth. It would surely be a suitable investment option for foreign investors. 
 
@EPC World Media


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