Outlook to remain stable for Indian road logistics: ICRA
The road logistics sector will do well in the year 2024, supported by stable domestic consumption and investment demand. According to rating agency ICRA, the industry’s revenue growth is estimated to be in the range of 6-9% in FY2024, building on an elevated base of FY2023. This growth is primarily driven by demand from varied segments, including e-commerce, FMCG, retail, chemicals, pharmaceuticals, and industrial goods, coupled with the industry’s paradigm shift towards organized logistics players, post-GST and e-way bill implementation. ICRA expects the outlook for the sector to remain stable.