The industry — over 80% of India’s goods travel by road — is estimated to be worth $215 billion by 2020, growing at a Compounded Annual Growth Rate of over 10%, according to the government’s 2017-18 Economic Survey.
Technology is finally solving inefficiencies in logistics, a sector that is directly linked to economic growth. Till not so long ago, the trucking and logistics industry was known for delays and unpredictability. An enterprise or individual was never sure whether shipments would actually arrive on a given date.
Now, with most firms adopting technology-led tracking systems that make it easy to predict when a parcel is expected, the sector is becoming more streamlined.