The truck logistics industry in India is booming. In the last five years, it has grown by leaps and bounds. Today, over a million trucks are on the road in India, transporting everything from food to clothes to furniture. This growth can be attributed to several factors, including the growth of e-commerce and the rise of small businesses in India.
Full truck load services are essential for these businesses, and as such, they will only continue to grow in popularity. The following points will explore the growth of full truck load logistics in India and what it means for the future of transportation in the country.
Changes in Manufacturing
As the country’s economy develops, more goods are being shipped long distances across India rather than just between neighboring states. This change presents new challenges for trucking companies, which must now plan routes that consider different traffic patterns and weather conditions.
Full truck load companies in India invest in new technology and equipment to meet these challenges. For example, many companies now use GPS tracking systems to help plan routes and monitor driver performance. In addition, new types of full load trucks are being introduced that are better suited for India’s roads and climate.
With the Indian trucking industry expected to grow significantly in the coming years, there are numerous opportunities for logistics providers that can capitalize on this demand.
Changes in financing
The industry of full truck load logistics in India has seen a lot of changes in recent years, particularly in terms of financing. In the past, most trucking companies in India were funded by banks and other financial institutions. However, this is no longer the case.
Today, most trucking companies in India are funded by private equity firms and venture capitalists. This change in funding sources has led to a change in the way trucking companies operate. In the past, most full truck loading companies were family-owned businesses that were run on a shoestring budget.
The rise in e-commerce and online retailing has boosted the demand for full truck load services as more businesses look to ship their products quickly and efficiently. As the trucking industry continues to grow in India, the technology is also booming along with it, for example, the GPS tracking systems that help fleet managers keep track of their vehicles and ensure that deliveries are made on time.
Changes in policies
The government has made several policy changes that have positively impacted the trucking industry’s growth. One of the most significant changes has been the introduction of GST. This has made it easier for truckers to transport goods across state borders.
Previously, they had to deal with different taxes and regulations in each state, which was time-consuming and expensive. Now, with GST in place, they can move goods seamlessly across states without having to worry about different taxes and rules.
Another policy change that has boosted the trucking industry is the setting up of dedicated freight corridors. These corridors are specifically designed for freight traffic and have been built with truckers in mind. They help reduce travel time and costs and make it easier for truckers to deliver goods on time.
Today, however, many full truck load logistics companies are professionally managed and have access to capital that they can use to invest in new trucks and equipment. This has allowed them to grow at a much faster pace than before. As a result, the Indian trucking industry is now worth billions of dollars and is expected to grow rapidly.