Logistics

Sinha to courier industry: Brace up for exponential growth

Our Bureau New Delhi | Updated on January 24, 2018

Jayant Sinha, Minister of State for Finance, with Pravir Kumar, DG,DGFT at a meeting in New Delhi on Monday - Photo: KAMAL NARANG

Need to tweak biz model to ensure affordable pricing for every user

India’s courier industry should redesign its business model so as to ensure that every person is able to make use of services at an “affordable price”.

This was stated by Jayant Sinha, Minister of State for Finance, at an event on “Delivering opportunities for ‘Make in India’ and e-commerce’, organised by the Express Industry Council of India here on Monday.

“I want you all to think differently, innovate and think big,” Sinha said, adding that the economy’s sustained annual growth of 8-9 percent for the next decade is going to throw up immense opportunities to the ‘express’ (courier) industry.

Stating that e-commerce will grow big in the coming years, he urged the courier industry to transform its supply chains to adapt to this growth.

Sinha said that he expects the shipments to grow 15-20 per cent every year and pointed out that the addressable market for the courier industry is going to “go up exponentially” in the coming years.

On its part, the government will further streamline procedures so as to “reduce frictions in the system” and enable ease of doing business, he said.

Meanwhile, Vijay Kumar, Chief Operating Officer, Express Industry Council of India, said that a separate electronic data interchange system for the courier industry is in the works and would go live by end of this year.

Published on June 08, 2015

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