Open AccessA Contemporary on Indian Government Initiatives and Challenges of Warehouse Industry
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.b1139.0782s619
Subject(s) - position (finance) , government (linguistics) , business , investment (military) , supply chain , distribution (mathematics) , index (typography) , private sector , warehouse , economy , economic growth , economics , marketing , finance , politics , mathematical analysis , linguistics , philosophy , mathematics , world wide web , political science , computer science , law
Over the last six decades, Indian Logistics Sector has evolved a tremendous growth towards Indian economy ranges from the distribution management to integrated logistics management to supply chain management to e- logistics. According to the Economic Survey 2018 report stated that the Indian logistics Sector is likely to touch USD 215 billion in 2020. According to Logistics Performance Index 2018, India slipped at 44th position from 35th position in 2016 out of 154 countries. This is due to the implementation of GST on July 1, 2017. Since many sectors in India are unorganized and fragmented sector. The impact of GST has been affected Indian economy during the initial period. But in coming years, there will be a tremendous growth and recently, the Government of India during union budget 2019 is now planned and focuses on 5trillion economy by 2024. Warehouse Sector is an integral part of the logistics sector and Indian Warehouse Market was ranked as fifth largest market in the Global Logistics Market. In this paper, we try to highlight the current scenario of warehouse market sector and also we try to deliver the current status of investment and infrastructure facilities in warehouse market in India. From a practical point of view, this paper points out the major challenges faced in warehouse sector market in India during recent years.