Logistic Sector (Transportation and storage)

The logistics industry in India is evolving rapidly and it is the interplay of infrastructure, technology and new types of service providers that will define whether the industry is able to help its customers reduce their logistics costs and provide effective services. Changing government policies on taxation and regulation of service providers are going to play an important role in this process. Coordination across various government agencies requires approval from multiple ministries and is a roadblock for multi-modal transport in India. At the firm level, the logistics focus is moving towards reducing cycle times in order to add value to their customers. Consequently, better tools and strategies are being sought by firms in order to enhance their decision-making.

Lots of things can go wrong during the transport of goods. To be insured for an unforeseen or unfortunate event insurance solution for logistics is a must. The insurance policy for the logistics sector covers the following:

  • Roads (national highways, state roads, and city roads)
  • Ports & waterways (major and minor)
  • Airports (greenfield and brownfield)
  • Railways (concession contracts and new schemes)
  • Pipelines
  • Logistics (SEZs, supply chains, and logistics hubs)
  • Multi-modal transport
  • Warehousing
  • Cold storage
  • Godown/depot

Air Freight

This is a modern and the safest mode to ensure fast delivery of goods. It is chosen by many because of the swiftness of the system there are many companies that are now even providing super fast deliveries by airways, often times on the same day.

Land Transport

This is a means of logistics support that has withstood the test of time through the extensive network of roads in India. It has been the popularly used method and used especially in the shipments of heavy articles like machinery and vehicles. This is also a chosen method for household packers and movers.

Railways

This is also an age-old method of shipments and transport. Though most used in case of domestic services this is very useful in the availability of cost-effective logistics support in India.

Waterways

An essential part of this industry this is also one of the oldest methods. Shipments and transportation of goods are done on an international basis in this way. It is apt in case of shipments of oil, highly sensitive or volatile articles like uranium.

Cold Storage and Warehousing

The cold storage market in India is highly fragmented with more than 3500 players in the unorganized sector and around 30 players in the organized sector.

India currently has 6156 cold storage facilities across various states with total capacity of 28.68 MMT which is insufficient. Due to lack of cold storage facilities, India has wastage of more than 450MMT every year which leads to a huge amount of loss, and leads to shortage in the overall generation capability.

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