Ayesha Katgara, Head – Corporate Strategy, Jeena & Company shares, “In 2024, we are brimming with optimism as we spot potential in contract logistics, warehousing & distribution, and pharma logistics. We are actively expanding our footprint in India with strategic expansions in our Coastal vertical and geographical diversification.” She adds, “2023 has been a transformative year for the ever-evolving Indian logistics landscape. The sector witnessed a rise in investment – within the country and outside. The warehousing sector experienced a boom as new facilities came up to address the need for storage. Amidst this dynamic environment, Jeena & Company explored new arenas in defense and automotive sectors. We experienced the transformative power of technology by introducing a CHA software built on AI to improve efficiency.”

Fletcher Samuel, Senior Manager – Cargo Business, Bangalore International Airport (BIAL) highlights, “The Indian air cargo industry is going through an exciting phase. With the government taking a keen interest in the sector and India’s Young Logisticians geared up to innovate and propel change, 2024 looks promising. At BLR Airport, we are further working towards consolidating our position and the brand image of BLR Cargo in the industry. Our aim is to emerge as the ‘New Gateway To India’ and BLR Cargo plans to develop a comprehensive logistics hub that will take us closer to our goal. This logistics hub will offer robust infrastructure that will cater to the burgeoning demand in the Air Cargo sector, that’s expected to witness a surge of 6 million MT by 2030. With Government of India’s National Logistics Policy aiming for a 10 Million MT growth by 2030, we at BLR Cargo are preparing and getting ready to deliver world-class experiences for all our customers and stakeholders, contributing to the dynamic growth of Air Cargo in the country.

Xerrxes Master, President, Association of Multimodal Transport Operators of India (AMTOI) says, “In 2024, the logistics industry is poised for transformative shifts driven by sustainable practices, widespread technology adoption, and accelerated digitization. The integration of eco-friendly initiatives will redefine supply chains, emphasizing sustainability. In 2024 the shipping industry will grapple with reduced demand and more supply, potentially leading to fierce competition and reduced profits and possible mergers and acquisitions. Although container schedule reliability is improving, persistent challenges will remain. Rates will remain low for the first 9 months of 2024 with the potential for growth and return with a true big shipping season in quarter four. However ongoing global disruptions such as the Israel –Palestine and Russia-Ukraine conflicts could create fluctuations in oil prices and in market rates as the year progresses.

Ramesh Mamidala, Head- Cargo, Air India, shares, “I expect the industry will go more than above average this year in proportion to the GDP of the country. I am also expecting that the concerned regulators help the industry with the growth of transshipment volumes by easing the much sought after and long-awaited regulatory changes and automation of current paper-based approval process. I also look forward to manufacturing for export friendly policies to further bolster the growth of export volumes in the country. Looking forward to further policy changes related to single bond for use of bonded trucking by airlines and revisit of GST policy for airfreight, in line with global practices.”

C K Govil, President, The Air Cargo Agents Association of India (ACAAI) shares his outlook for 2024, “After a lukewarm 2023, we are quite hopeful for 2024, expecting a growth of around 4.5% for the global air cargo industry. We saw global air cargo capacity surpass the pre-covid levels in April 2023. 2024 will give us an opportunity to be a part of India’s success story of becoming one of the global superpowers, driven by a young population, an increased demand for exceptional logistics services, and technological advancement in supply chain management with a prime focus on sustainability and efficiency in the transportation industry. Besides, I feel factors like climate change and artificial intelligence will drive many of our everyday decisions. Now, the industry needs to grab the opportunity and be part of the India’s success in becoming number two globally with the young team of population and with increased demand for logistics services potential advancement in technology for supply chain management, a focus on sustainability and efficiency in the transportation industry.”

AviLease has signed a strategic MOU with SDH Wings International Leasing Limited for the supply of up to 20 predominantly new technology aircraft. As part of this agreement, AviLease and SDH Wings have already identified the first 5 new technology narrowbody aircraft from AviLease’s owned portfolio that are now under LOI. The MOU will facilitate the expansion of the portfolio of aircraft owned by SDH Wings, while allowing both majority shareholder Sichuan Development International Holdings (SDIH) and AviLease to develop and strengthen their new relationship and their commitment to their joint venture platform. AviLease acquired a 10% share of SDH Wings as part of the recently completed acquisition of the aircraft leasing platform of Standard Chartered. The MoU also aims to enhance the strong relations and cooperation between China and the Kingdom of Saudi Arabia and seeks to find collaborative ways to work closely for the benefit of both economies.

Unilode Aviation Solutions and Thai AirAsia X have announced the early extension of their full-service ULD management partnership until 2029. Thai AirAsia X awarded the full-service management of its ULD fleet to Unilode in 2014. Unilode supplies a digitised ULD fleet from its global pool to Thai AirAsia X for its current fleet of seven Airbus A330 aircraft. As part of Thai AirAsia X’s expansion plans, the total aircraft fleet size will grow to 20 widebody aircraft with new routes being added over the next few years. Captain Pittinun Intarasak, Chief Operations Officer of Thai AirAsia X, said: “Thai AirAsia X is thrilled to return to a stabilised operation mode after the pandemic and strengthen its leading position in the low-cost medium-haul market in the Asia Pacific region. We are delighted to continue partnering with Unilode for ULD solutions as the expansion of our widebody fleet creates significant revenue-generating opportunities for our cargo business. ULD availability is crucial for the success of our passenger and cargo operations, and we will continue counting on Unilode’s excellent support over the next six years and beyond.”

Emirates SkyCargo has made significant leaps towards its long-term strategic growth plans to double capacity in the next decade, and further cement its leading position in global air logistics. Nabil Sultan, Divisional Senior Vice President, Emirates SkyCargo said, “2023 was a pivotal year for Emirates SkyCargo. Despite ongoing fluctuations in air freight, long-term trends indicate that the industry is growing at a rate of 3 – 5% year-on-year. Emirates SkyCargo, however, continues to outperform the market growth, uplifting over 1,183,000 tonnes from January to mid-December, a solid 7% increase compared to last year. Looking to the future, we are well-positioned to steadily scale up operations in 2024, continuing our strategic growth to ensure we lead the industry in solutions that are fast, reliable, flexible, and efficient.”

In a strategic move to propel infrastructure development and minimize market borrowings for the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways has sought a 25 per cent increase in budgetary allocation for the year 2024-25. This proposal, amounting to Rs 3.25 lakh crore, reflects the government’s commitment to fortifying the country’s road network while strategically managing NHAI’s financial obligations, government officials said. The decision to seek a higher budget comes on the heels of a challenging year marked by obstacles, including project delays attributed to unpredictable weather conditions and state elections. The Ministry is gearing up for a proactive approach in the upcoming fiscal year, with a focus on substantially increasing the number of project awards to fortify capital expenditure, said an official.

Harshit Shrivastava, CEO and Co-Founder, Intugine shares, “India has emerged as an important global manufacturing player, and the backbone of this evolution will be the supply chains. We are committed to continuing our partnership with the government and enhancing our network of integrations. By 2024 end, we plan to increase our long-haul coverage from the current 24 percent to 60 percent and also increase our PTL coverage from 60 to 90 percent. We aspire to expand into the Middle East, forge partnerships, and widen our reach to new global markets. We are also excited to announce the launch of our new product in 2024, Ecotrace – a carbon emission management tool for enterprises to measure their emissions from logistics, contributing to 14% of global emissions. We will also launch the Ecotrace Transporter Index and the Carbon Visibility tool’s first version, which will be available for free to SME transporters by Feb 2024. Intugine is dedicated to a transformative journey of constant innovation and expanding its reach while contributing to a greener future.”