Logistics to create 10 million jobs by 2027 : Report
It is anticipated that the increasing employment growth in logistics sector would significantly alter the required skill set for the sector.
The ecosystem is anticipated to see considerable job synergy as a result of the logistics industry’s upward trend. According to a recent research, the industry, which is expanding at a 12% CAGR, will generate 10 million employment by 2027.
The shift from an unorganized to an organized sector adds to the momentum and serves as a further motivator for industry progress, claims staffing firm TeamLease Services.
According to the report, India’s logistics sector is poised for rapid growth in the upcoming year, supported by recent industry reforms such as the government’s Production-Linked Incentive (PLI) scheme, strong production figures encompassing both domestic and export activities, and changing consumption patterns influenced by rising disposable incomes, falling inflation rates, innovative business models like 3PL (Third-Party Logistics) and surging rural demand.
Not only is the logistics sector changing as a result of the rising demand, but numerous new employment possibilities are also becoming available. The sector is experiencing a marked growth in demand for a variety of job types.
Logistics Specialists are responsible for meticulously handling the planning and organization of goods
Distribution Managers are responsible for making sure that products are delivered to customers on time, while Warehousing Managers are in charge of deftly managing storage operations. Supply Chain Managers are in charge of optimizing the overall flow of goods, while Logistics Specialists are responsible for meticulously handling the planning and organization of goods. The dynamic expansion of the logistics business, which provides a variety of responsibilities to suit the industry’s expanding demands, is reflected in this increase in demand.
“As India’s logistics sector continues to grow, it is critical to understand the forces driving this remarkable transformation,” said Balasubramanian A, vice president and business head of TeamLease Services. Due to a large growth in both production and consumption, a dynamic industry that is expected to provide over 10 million new employment opportunities over the next five years is emerging. The need for logistics services including distribution, warehousing, and transportation has expanded as a result of this growth in output.
“Furthermore, shifting economic dynamics such as rising disposable incomes, lower inflation rates, and rising rural demand have sparked a nationwide consumption boom,” Balasubramanian added.
It is anticipated that the increasing employment growth in the logistics sector would significantly alter the required skill set for the sector. Automation, Artificial Intelligence (AI), and Machine Learning (ML) are becoming more and more important for advanced demand forecasting and supply chain planning as logistics hubs develop into cutting-edge, world-class facilities.
“This transformative trend reduces reliance on unskilled labour while emphasising the critical need for a highly skilled workforce skilled in technology. Furthermore, this integration of technology and automation is expected to result in significant increases in workforce productivity. As a result, even as the flow of goods increases, the expansion of the workforce will be proportionally limited. This highlights the critical importance of having a larger but technologically adept workforce,” added Balasubramanian.
Cities like Indore, Guwahati, Nagpur, Jaipur, Vadodara, and Lucknow are also predicted to expand at an even quicker rate and enter the league of significant hubs around metros, in addition to the typical suspects, which are the main metropolitan cities that lead the pack in terms of employment creation.
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