Recently I was interviewed by Times Ascent on the trends in the Indian Logistics industry & its related IT application development industry (ERP in SCM) and the impact of it on professionals seeking career opportunities in this domain. Following are the excerpts from that interview:
What kind of growth has this industry seen in recent times?
Globally, the logistics industry is valued at US$ 3.5 trillion. The Indian Logistics Industry is presently estimated at US$ 90 billion and currently being at its most dynamic juncture, it is expected to reach a market size of over US$125 billion this year. With India’s logistics sector attracting huge global investments, the Indian logistics industry is expected to grow growing at a compounded annual growth rate (CAGR) of approximately 8% over the next five years, reaching revenues of approximately US$ 385 billion by 2015.
Some of the Key Indicators of Growth in the Indian logistics industry are:
1. Geographical Advantage: India has emerged as the preferred location for the development of logistics parks with an investment of approximately US$ 200 million.
2. Infrastructure Support: The development of seven to eight logistics parks are in pipeline on 600 acres around Mumbai. A large number of upcoming SEZs have necessitated the development of logistics for the domestic market as well as for global trade.
3. Increased efficiency and productivity in transport system.
4. Technology Support with the help of newer IT applications in place.
What are the job opportunities in this industry?
Logistics Industry is presently estimated at US$ 90 billion. The industry has generated employment for 45 million people in the country in comparison with the IT and ITeS sector which employs approximately 4.3 million people. Based on these figures and foreseeing the growth prospects of the industry, it will be a major employment generator.
Other than the conventional job offerings in the sector, the adoption of IT application through integrated computer systems like CRM and ERP offers a great avenue to the IT professionals in this domain.
What are the skills and qualifications required for a career in this industry?
The Industry seeks a well trained incumbent with special skills in the logistics and transportation industry and IT applications. The industry offers a strong career builder for people with an MBA degree with specialization in International Trade. However, a PG diploma holder with good knowledge or experience in Shipping, Warehousing, Logistics, and SCM can also have good career opportunities in this industry.
What are the benefits and challenges of working in this industry?
Other than the immense learning and the exposure, an incumbent is exposed to the global trends in the market that are related to the product distribution. The sector offer various opportunities for the aspirants in the freight forwarding, shipping, logistics segment for jobs or as an entrepreneur.
The challenges posed by the industry are directly linked with the global trends in the International trade, which deeply affects the local shipping pattern of the country. The ever changing international trade laws, tariffs, currency exchange rates and customs duty add to the complexities of this highly dynamic industry.
What kind of remuneration can aspirants expect?
A typical aspirant in this industry can look at starting their career as a trainee with an annual salary ranging from Rs. 1.2 Lacs to Rs. 2.4 Lacs. However based on the knowledge and competency level of a person, especially graduates from premier or category ‘A’ professional institutes in the country, an aspirant can get a starting salary of Rs. 4 Lacs or more per annum.
What are the long-term career prospects in this industry?
Logistics and Supply Chain are the integral part of the product cycle and are the medium through which the products reaches the consumer directly. Both Logistics and SCM are the backbone for product performance indicators in the market. Today there are several advanced approaches and paradigms that companies follow to complete the closure of product distribution.
Foreseeing the tremendous growth in this industry, people with interest in logistics and SCM can look forward to excellent career prospects in the industry. A person can start his/her career either as a trainee and gradually evolve into a role of SCM Functional Consultant/Specialist/Lead and for the right person virtually there are no upper limits to their career growth in this industry.
With globalization making the world become a single common market, logistics and SCM will always remain one of the key driving force.
This interview has been published in Times Ascent and can be viewed at the following link - http://timesascent.in/article/2/201005032010050316223749946c9cf4/The-Indian-Logistics-industry-is-presently-estimated-at-US-90-billion-and-currently-being-at-its-most-dynamic-juncture.html
What kind of growth has this industry seen in recent times?
Globally, the logistics industry is valued at US$ 3.5 trillion. The Indian Logistics Industry is presently estimated at US$ 90 billion and currently being at its most dynamic juncture, it is expected to reach a market size of over US$125 billion this year. With India’s logistics sector attracting huge global investments, the Indian logistics industry is expected to grow growing at a compounded annual growth rate (CAGR) of approximately 8% over the next five years, reaching revenues of approximately US$ 385 billion by 2015.
Some of the Key Indicators of Growth in the Indian logistics industry are:
1. Geographical Advantage: India has emerged as the preferred location for the development of logistics parks with an investment of approximately US$ 200 million.
2. Infrastructure Support: The development of seven to eight logistics parks are in pipeline on 600 acres around Mumbai. A large number of upcoming SEZs have necessitated the development of logistics for the domestic market as well as for global trade.
3. Increased efficiency and productivity in transport system.
4. Technology Support with the help of newer IT applications in place.
What are the job opportunities in this industry?
Logistics Industry is presently estimated at US$ 90 billion. The industry has generated employment for 45 million people in the country in comparison with the IT and ITeS sector which employs approximately 4.3 million people. Based on these figures and foreseeing the growth prospects of the industry, it will be a major employment generator.
Other than the conventional job offerings in the sector, the adoption of IT application through integrated computer systems like CRM and ERP offers a great avenue to the IT professionals in this domain.
What are the skills and qualifications required for a career in this industry?
The Industry seeks a well trained incumbent with special skills in the logistics and transportation industry and IT applications. The industry offers a strong career builder for people with an MBA degree with specialization in International Trade. However, a PG diploma holder with good knowledge or experience in Shipping, Warehousing, Logistics, and SCM can also have good career opportunities in this industry.
What are the benefits and challenges of working in this industry?
Other than the immense learning and the exposure, an incumbent is exposed to the global trends in the market that are related to the product distribution. The sector offer various opportunities for the aspirants in the freight forwarding, shipping, logistics segment for jobs or as an entrepreneur.
The challenges posed by the industry are directly linked with the global trends in the International trade, which deeply affects the local shipping pattern of the country. The ever changing international trade laws, tariffs, currency exchange rates and customs duty add to the complexities of this highly dynamic industry.
What kind of remuneration can aspirants expect?
A typical aspirant in this industry can look at starting their career as a trainee with an annual salary ranging from Rs. 1.2 Lacs to Rs. 2.4 Lacs. However based on the knowledge and competency level of a person, especially graduates from premier or category ‘A’ professional institutes in the country, an aspirant can get a starting salary of Rs. 4 Lacs or more per annum.
What are the long-term career prospects in this industry?
Logistics and Supply Chain are the integral part of the product cycle and are the medium through which the products reaches the consumer directly. Both Logistics and SCM are the backbone for product performance indicators in the market. Today there are several advanced approaches and paradigms that companies follow to complete the closure of product distribution.
Foreseeing the tremendous growth in this industry, people with interest in logistics and SCM can look forward to excellent career prospects in the industry. A person can start his/her career either as a trainee and gradually evolve into a role of SCM Functional Consultant/Specialist/Lead and for the right person virtually there are no upper limits to their career growth in this industry.
With globalization making the world become a single common market, logistics and SCM will always remain one of the key driving force.
This interview has been published in Times Ascent and can be viewed at the following link - http://timesascent.in/article/2/201005032010050316223749946c9cf4/The-Indian-Logistics-industry-is-presently-estimated-at-US-90-billion-and-currently-being-at-its-most-dynamic-juncture.html
Its really a valuable posts for those who want to build a career in this area or are searching for industry having good career opportunities..
ReplyDeleteHow is University of Petroleum and Energy Studies for doing MBA in logistics and supply chain management?
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ReplyDeleteM.B.A – SHIPPING AND LOGISTICS MANAGEMENT
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ReplyDeleteLogistic industry has been increased a lot and now a days, every small and big business is depended on logistics service only.
Now a days, not only, logistics but, many other services are being used to deliver goods to save time, money and energy.
Many firms are providing the service of logistics and one such firm is Esquire Logistics in Miami which is providing the service of warehousing logistisc.