India’s road logistics industry to have 6-9 per cent revenue growth for FY2024: ICRA

According to a report by the Investment Information and Credit Rating Agency (ICRA), the road logistics industry of India is expected to undergo a growth of 6-9 per cent revenue increase year on year for the financial year of 2024. The key sectors with increased demand that will play a role in this growth would be e-commerce, FMCG, retail, chemicals, pharmaceuticals, and industrial goods. The implementation of GST and e-way bills paved the way for an industry shift towards logistics players, which is another factor for the rise, the report says. It also mentioned the stability in volumes of e way usage and FASTag adoption indicating domestic trade and transportation activities.