The Economic Times recently presented its 3rd Annual ‘Supply Chain Management and logistics’ Summit which took place in Mumbai. The Chief Guest present at the Summit was Sudhir Mungantiwar, Hon’ble Minister of Finance, Planning and Forest Departments Government of Maharashtra. The Summit saw CEO’s, Director’s, MD’s from leading corporations such as DHL, All Cargo logistics, Flipkart and Mahindra Logistics among others.
The Summit discussed the pertinent issues and challenges that the Supply Chain and Logistic sector faces. The panel discussions highlighted the importance of an integrated Supply Chain and the importance of bridging the gap between retail store and online market places.
According to a report by Motilal Oswal Securities Ltd., the Indian Logistics industry grows 1.5-2 times the GDP growth. This offers opportunities across the spectrum for companies in transportation, storage, distribution, and allied services. The value of the Indian Logistics Industry is estimated at $130 billion in 2012-2013, but this industry has not received the attention or recognition it deserves.
The key growth drivers are rapid growth in industries such as automobile, pharmaceuticals, fast-moving consumer goods (FMCG) and retail. Highlighting the importance of these growth drivers, the event facilitated parallel sessions in which the SCM of Heavy Engineering and Manufacturing, FMCG and Pharma were discussed.
The event closed with a felicitation ceremony where the key influencers of the industry were honoured.