Express industry on growth trajectory
Express industry remains one of the fastest growing segments of the Indian logistics space, thanks to the exponential growth of banking products and e-commerce.
By ET Bureau |
Express industry remains one of the fastest growing segments of the Indian logistics space, thanks to the exponential growth of banking products and e-commerce.
"Our segment is moving at a rapid rate. We were the second fastest industry for a long time after information technology (IT) sector. Now with the slow down in IT, I think our industry is the fastest growing," said a Mumbai-based player.
Growing at over 30%, e-commerce is a segment vouched by almost all courier companies. The potential for e-commerce solutions in India is huge and total e-commerce volumes have grown by 30% to touch Rs 7,080 crore in 2006-07 as per industry body, ASSOCHAM.
According to Internet and Mobile Association of India (IAMAI) figures, share of non metros to e-commerce transactions had increased from 23% in 2000 to 62% in 2007. Rough estimates put the e-commerce market in India touching Rs 10,000 crore currently. Courier companies also piggy ride on expansion of banking activities.
Increasing use of cards - credit cards, debit cards, smart cards - have provided courier services a platform for growth which was not there before.
"Our segment is moving at a rapid rate. We were the second fastest industry for a long time after information technology (IT) sector. Now with the slow down in IT, I think our industry is the fastest growing," said a Mumbai-based player.
Growing at over 30%, e-commerce is a segment vouched by almost all courier companies. The potential for e-commerce solutions in India is huge and total e-commerce volumes have grown by 30% to touch Rs 7,080 crore in 2006-07 as per industry body, ASSOCHAM.
According to Internet and Mobile Association of India (IAMAI) figures, share of non metros to e-commerce transactions had increased from 23% in 2000 to 62% in 2007. Rough estimates put the e-commerce market in India touching Rs 10,000 crore currently. Courier companies also piggy ride on expansion of banking activities.
Increasing use of cards - credit cards, debit cards, smart cards - have provided courier services a platform for growth which was not there before.
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