The Hindu Business Line : ‘Logistics industry key to growth of economy’

Chennai, Aug. 28 Development of a robust and responsive logistics industry is the key to the projected growth of the economy. The recent trends in the country’s economic scenario augur well for the logistics industry.

The logistics industry is geared up to support the capacity expansion through technological upgradation and deliver quality services, with small and medium-sized enterprises (SMEs) being at the forefront, Mr Vijay Chandok, Senior General Manager and Head of Small Enterprises Group, ICICI Bank, said in an exhibition directory released at the ICICI Bank SME Expo Logistics and Material Handling 2008 — a two-day international logistics and material handling business expo organised by INIS Enterprises.

Leading edge

SMEs will be at the leading edge when it comes to innovation and entering new markets. With over 40 per cent of industrial output through 95 per cent industrial units, SMEs form the backbone of the Indian economy. Like most other industries in India, SMEs dominate the logistics industry, he said.

The increase in the number of special economic zones across the country provides good business opportunity for SMEs. Infrastructure facility is available in the SEZ, and SMEs need to make full use of this, Mr K. Suresh, Chairman, Chennai Port Trust, said in his keynote address.

Ports are well-integrated with SEZs in places such as Kandla, Mumbai and Chennai. One SEZ is planned in Ennore and another in Tuticorin. Small companies should use SEZs to develop products and solutions that cater to global requirements, he said.

50 cos participating

Nearly 50 companies, including Godrej & Boyce, Jost’s and Forklifters, are participating in the expo being held at the Chennai Trade Centre to showcase creative material handling solutions, information of the products and services by many material handing equipment/service providers.

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