The Economic Times Supply Chain & Logistics Conclave 2024 Launches in New Delhi to Shape India's Logistics Future

The highly anticipated Economic Times Supply Chain & Logistics Conclave 2024 has officially begun today at the Hyatt Regency, New Delhi. This significant event unites industry leaders, policymakers, and experts to discuss the current trends and future directions of India's logistics sector, a vital component of the nation's trade and commerce. The logistics sector is crucial in supporting India's import and export activities, significantly contributing to the country's economic growth. Despite road transportation currently handling 66% of freight movement, the industry is rapidly evolving beyond traditional functions. The shift towards specialized logistics functions is fostering end-to-end product planning, last-mile delivery services, predictive planning, and analytics. This evolution positions the sector to contribute 14.4% of the GDP, aligning with India's ambitious goal of becoming a USD 26 trillion economy by FY48. Addressing the necessity to reduce logistics and supply chain costs to single-digit percentages of GDP, both the government and industry players are optimizing strategies and leveraging technological advancements such as electric vehicles, hydrogen technology, and connected ecosystems to reduce operational costs. The 4th edition of the Supply Chain & Logistics Conclave highlights the critical need for a more sustainable and efficient logistics sector in India. This event will explore how innovation and technology can pave the way for a greener future, focusing on digitization, sustainable transport solutions,