LogiMAT India: Boosting Logistics Investments

New Delhi, Feb 15 (PTI) Global exhibitor Messe Stuttgart India has collaborated with national investment promotion and facilitation agency Invest India for leading logistics show LogiMAT India to boost investments in the sector.

Messe Stuttgart India is organising LogiMAT India, which is the satellite show of Europe's biggest intralogistics exhibition, LogiMAT Stuttgart, on February 28 to March 1 at India Expo Mart, Greater Noida, a statement said.

This collaboration marks a significant stride towards boosting investments in India's logistics sector, fostering growth, innovation, technology, and sustainability in this vital economic segment, it stated.

"It is imperative to recognise that India faces a significant challenge with its logistics costs, which are notably higher compared to the average, currently standing at 14 per cent as opposed to the BRICS average of 11 per cent," Sachin Patil, Managing Director & CEO of Messe Stuttgart India said.

This highlights the urgent need for innovative solutions and strategic partnerships to optimise our logistics processes and reduce costs, he pointed out.

The collaboration assumes significance in view of industry estimates that the Indian logistics market is projected to grow to USD 563 billion by 2030.

India is the 14th largest logistics market globally.

Invest India Managing Director and CEO, Nivruti Rai was of the view that the logistics sector in India has grown significantly and they are working towards reducing logistics cost from 14 per cent to 10 per cent.

"When logistics improve, businesses improve. If you want your business to grow, come participate in LogiMAT India. Together, we will drive technology, innovation, and better logistics," Rai stated.

With its extensive network and expertise, Invest India will provide valuable insights and support to LogiMAT India, ensuring that the exhibition serves as a catalyst for investment, collaboration, and technological advancement in the logistics sector.

LogiMAT India provides a comprehensive platform for industry professionals to explore the latest trends and advancements in the intralogistics, transportation, warehousing and automation sectors.