At the recently concluded India International Cargo Show, Sanjiv Edward, President, Air Cargo Forum India, says PLI Schemes, FTAs, international collaborations, and emergence of start-ups will drive growth. If India wants to take leadership position, seamless multimodal logistics infrastructure is essential, he adds.
CT Bureau
Air freight services have been the cornerstone of global trade, offering fast and reliable transportation across continents. As global chains become complex and e-commerce continues to expand, the need for expedited shipping and air freight has become relevant.
Important industries such as pharma, electronics, high-value goods, rely on air freight, especially for time-sensitive shipments. The logistics market was valued at US$ 8.96 trillion in 2023, and it is expected to be worth around US$ 21.91 trillion by 2033 at a CAGR of 9.35 per cent from 2024 to 2033.
This combines 3PL, 4PL, warehousing, air freight and logistics. This opens doors for opportunities of the industry as air freight is the backbone of high-value and time-sensitive shipments.India is showing progress in the field of aviation and that resonates with its commitment for growth. Air freight services will continue to be the cornerstone for that growth, offering fast and reliable transportation across the global supply chains.
India’s role in the current logistics and air freight environment can be summarised in three broad areas. Firstly, we have the vision of Honorouble Prime Minister Narendra Modi for Viksit Bharat by 2047. This initiative envisions India as a developed nation by the centenary of Indian independence by the year 2047. The transformative roadmap emphasises inclusive development, sustainable progress and effective governance. The country has over one lakh startups, 100 unicorns and the central government has implemented several schemes that will act as a catalyst to this growth.
The PLI scheme, boosting global manufacturing initiatives such as Pradhan Mantri Mega Integrated Textile Region and Apparel Park, the Bulk Drug Parks, and the towns of exports excellence are driving the country’s economics and exports. The second area that we need to focus on is the operational cost, the government has also introduced several initiatives such as the National Logistics Policy (NLP), whose objective ti Xat ease of doing business. “I am sure we are on the trajectory to get better in the ease of doing business and LPI,” he stressed.
The Union government is also looking at financial incentives that will boost companies for building efficient logistics infrastructure. Already tax breaks are being provided for modernising warehouses and distribution centres and this will also be an important part in reducing logistics costs. At the same time, we need to adopt innovative technologies such as big data and blockchain. If India take the position of leadership, we must make sure that we have a seamless multimodal logistics infrastructure. We also need to work on the multimodal logistics parks (MMLPs) and inspire international collaboration as well. It is equally important to get connected to the world, we must explore new ideas, new technology to be ahead of the curve.
There are free trade agreements (FTAs) and partnerships happening, which are the things that we need to do to make sure that we are encashing the opportunity available to us. But in conclusion, this is not just a vision for the country alone. It is a vision for the world. Together, we can ensure that the future of aviation is built on the pillars of innovation, sustainability and inclusivity.
