By James Foley and Johnathan GeeSource TechRadars title How much logistics growth is there in India?
article By Tom VassarSource Techradar title What’s the biggest growth trend for logistics in India right now?
articleBy Thomas VassardSource Tech Radar title Logistics growth in India: How it is growing, where it’s going, what to expect and how to do it?
articleThe Indian economy has been growing by 2.7% annually for the past three years, with the government expecting the economy to expand by 3.5% in 2021.
The growth has been fueled by growth in the services sector, particularly in IT and logistics.
The key growth driver is logistics growth.
According to a recent report from McKinsey, logistics growth has grown at 6.2% in 2017, 5.3% in 2018 and 3.4% in 2019.
The McKinsey report says logistics growth will be a key growth trend in the Indian economy for the next few years.
The McKinsey study predicts that logistics growth in 2021 will be about the same as it was in 2020.
But it is forecasted that growth in 2019 will be higher, and the McKinsey survey says this will help in bringing down the growth rate for 2021.
For India’s logistics industry, this growth will come from the service sector, which will grow at an average of 7.2%, which is around 7% annually.
McKinsey predicts that in 2021, this service sector will account for more than a third of India’s growth.
The report says the growth in services is the biggest driver of growth in logistics.
The report says that in 2020, logistics and logistics related services accounted for an estimated 4.4 million jobs.
In 2021, it is expected that this sector will grow to 4.6 million jobs, and that it will account with almost half of India the total number of jobs in the logistics sector in 2021 alone.
The growth in Indian services has been driven by the growth of IT.
In 2020, the report said that logistics related employment in India is expected to increase by about 5% annually and that the growth is expected, in 2021 and beyond, to be similar to that of IT employment.
It says that the rise in IT related jobs is the result of both the automation and IT outsourcing sectors in India.
It adds that in terms of employment, logistics is expected for an increase of 5% in 2020 and a rise of 3% in 2025.
In terms of revenue, it said that in 2019, logistics related revenue in India was estimated at $10.9 billion and by 2021 it is estimated to be $12.4 billion.
The biggest growth driver for the Indian logistics industry in 2021 is expected from the services, with growth of 9.1% for the sector, while the services related employment will grow by 4.3%.
The growth in these two segments is expected in 2021 to be the fastest in the country.
The US has been the fastest growing logistics industry over the past several years, and is expected by the McKinseys survey to grow by 9.6% annually in 2021 for a total of $8.9 trillion in revenue.
India, however, is expected at around 6% in the same timeframe.
The data also says that India’s biggest growth drivers are the transportation and logistics sectors.
It is expected both of these sectors will grow 5.7%, or $3.5 trillion in 2021 with the transportation sector seeing an annual growth of 8.5%, or nearly $2.3 trillion.
The transport sector is expected also to see a rise in growth of about 4.5%.
The transportation sector is a key driver for growth in both the service and logistics segments, as it is a crucial source of income for the entire economy, according to the McKinays survey.
It expects this sector to grow at 6% annual rates in 2021 from the previous year and 3% rates in 2022 and 2023.
The services sector is the key driver in India, and it is projected to grow 7.7%.
The services industry is expected not only to grow in 2021 at 6%, but to grow 9.2%.
The McKinays report says it expects this to be a record high for the country, with a 7.3 rate in 2021 that is expected after growing 4.9% in 2023 and 4.7 in 2024.
In terms of the Indian manufacturing sector, it will grow 3.6%, while in 2021 it will be expected to grow 3% and the manufacturing sector is forecast to grow 2.4%.
The McKinseys report also says in 2021 India will witness a slowdown in exports of goods and services, which is forecast at 4.8% in India and 3%.
In 2021 it also expects that exports will decline at 7.5.