Logistics sector expected to grow by 10 per cent annually

CHENNAI: A two-day meet with the focus on 'Creating value across the logistics supply chain', organised by the Confederation of Indian Industry's Institute of Logistics, opened here today.

"The logistics sector at $101 billion in 2013 is expected to grow by 10 per cent per annum to reach $136 billion by 2016," Chairman, CII Institute of Logistics Advisory Council and Joint Managing Director, TVS Sons Limited, R Dinesh said.

Competition no longer took place between individual businesses but between entire value chains as global markets grew, he noted.

"Most of the supply chain strategies currently implemented were developed during a time when the global business environment was more stable," he pointed out.

The meet called, "CII Logistics Summit 2014" will have five sessions that highlight value creation through integration and optimisation of supply chain.

The sessions are designed to deliberate on supply chain strategies to enhance operations for emerging markets besides other things, says a release.