Decoding role of 3PL and 4PL service providers - ITLN

The logistics sector in India is predicted to reach $380 billion by 2025. It has become crucial for the Indian economy, especially after the COVID-19 pandemic. The government aims to reduce logistic costs through infrastructure development, but a holistic approach is needed. 3PL and 4PL service providers are driving innovation and green initiatives in the sector. The India 3PL market is estimated to be $37.31 billion in 2023 and is expected to grow due to the manufacturing sector. The warehousing sector has also attracted significant investments. Developing manpower skills and logistics tech start-ups are key opportunities for growth. The NLP framework and foreign direct investment in warehouse infrastructure are contributing to sector development. India can build a robust logistics sector with effective solutions and achieve its goal of becoming a $5 trillion economy.

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