INSIGHTS
Noting obstacles in India's ports, shipping and logistics industry in policy, business, digital and infrastructure, EY has proposed a four-pronged strategy to empower the sector.
Adopt advanced technology and explore new business models; accelerate infrastructure development; focus on sustainable logistics; and attract investment and investor interest.
Global consulting firm EY has proposed a four-pronged strategy to empower India’s logistics sector: adopt advanced technology and explore new business models; accelerate infrastructure development; focus on sustainable logistics; and attract investment and investor interest.
India’s freight movement is heavily skewed toward road transportation, which moves 66 per cent of cargo (in ton-km).
This is followed by rail (31 per cent), shipping (3 per cent) and air (1 per cent). The sector continues to witness unevenness in freight transportation by mode and is working toward solving this impediment.
Obstacles do exists in the country’s ports, shipping and logistics industry in policy, business, digital and infrastructure segments, Neville M Dumasia, national leader, advanced manufacturing, mobility and infrastructure, EY India, wrote in an article on the company’s website.
While the level of adoption of technology-enabled solutions like blockchain, big data, cloud computing, and digital twins is relatively low in India, the government has launched several digital solutions like ICEGATE and E-Logs, which have reduced inefficiencies, improved transparency and made goods movement faster, the article said.
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