2023 Overview of Supply Chain Industry/ Logistics Industry
2023 was remarkable in many ways: 1st year of NLP policy, ONDC collaboration, G20 Summit, and the Government’s mega push for MSME. In a way, we can call 2023 a pivotal point for the logistics and supply chain industry as it started its journey for a seamless and integrated logistics infrastructure. Implementing reforms for MSME growth to improve international competitiveness makes MSMEs the driving force of India’s economic growth, thus creating a conducive ecosystem for e-commerce and D2C brands to embrace competitiveness. Also, setting last year’s expectations for reforms for MSMEs was truly accomplished. Over the years, India has witnessed some remarkable developments in the logistics and supply chain front, like the IMEC corridor, which brought India to be the world’s economic centre. These factors, or instead pillars, contributed to an ambitious infrastructure for a structured supply chain. The vision that the logistics and supply chain industry has been longing for to have an international approach and competitiveness and become a global leader with its structured approach has taken its first step.
2024 Expectations in the Supply Chain Industry/ Logistics Industry
With 2024 approaching, we can look forward to enhanced ULIP and an unbending paperless logistics approach. Hence, integrating technologies into the core of the businesses. On the other hand, we can easily bank on the government for successful maneuvers like the IMEC corridor and the MSME reforms to keep the growth fuel running. This brings us to our next point: seamless supply chain operations with carbon-free footprints. In the coming years, we can foresee lesser carbon emissions and reduced carbon footprints as the logistics industry is the third largest carbon-emitting sector. Besides this, we expect more seamless and optimized supply chain operations with a technology-integrated system.
