Continuing our #LogisticsTrends2023 series, we have insights from the owner of JBS Group of Companies, Samir J. Shah. He believes that sustainability will be the key – not costs and it cannot be a trend but has to be the singular driving parameter for all stakeholders. Here are the excerpts:
What was the greatest trend in the logistics industry in 2022 according to you?
There are 12 listed verticals in the Logistics sector in India. Each had had different trends. Warehousing; E-Commerce showed many positives. EXIM Logistics from Freight Forwarding gave Forwarders a good run in view of the high freight rates that were charged in the initial months. With a downward trend in freight rates we can expect new challenges. Customs clearance saw the emergence of many new regulations pertaining to the PGA’s necessitated by various FTA’s and proposed FTA’s. The other sectors also saw varied trends.
According to you, what are the milestones achieved for the industry in 2022?
In spite of all challenges this sector continued ensuring deliveries. We established that we can and will deliver. Unlike doctors; lawyers and other professionals who can excuse themselves by saying that the ultimate decision is of someone else the Logistician has to deliver.
With the digital transformation in the logistics industry, technology has reshaped the industry by increasing productivity in the supply chain and reducing costs and errors. What is your opinion and how will it take shape in 2023?
This will continue at a much faster pace. I hope to see all logistic activities being processed and monitored on smart phones through much more automation which will be cheap and easy to understand. Accuracy; proactiveness; speed will be the main drivers. Costs may not remain low as at present.
How do you see the government intervention in the sector? What are the expectations?
Government of India has remained a facilitator and not a regulator. This is good for all stakeholders. I do not see much interference but only intervention to smoothen the cycle. I look forward to a fund specific for capacity building in this sector as well as to support starts up bringing in innovation not only technology.
Will sustainability be the trend for the industry?
Sustainability will be the key – not costs. This cannot be a trend but has to be the singular driving parameter for all stakeholders.
What is the Outlook 2023 for the logistics industry?