Saturday, Aug 18 2018 | Time 00:05 Hrs(IST)
Business Economy Share

Logistic sector to create 7,50,000 new jobs in Mumbai region

Mumbai, May 31 (UNI) The infrastructure status and the subsequent
investment coupled with GST implementation will boost the growth of
Logistic industry in India to 10.5 percent CAGR, TeamLease
report said.
According to the report, titled 'Indian Logistics Revolution -
Big Bets, big jobs'the positive growth of the industry will
result in the sector creating around 750,000 new jobs in Mumbai and
3 million jobs across the country in the next four years.
Further, the impact will reflect across all the seven
subsectors namely 1) Road Freight 2) Rail Freight 3)Warehousing
4)Waterways 5)Air Freight 6)Packaging and 7)Courier Services.
According to the report, public investments like the Brownfield
expansion of Mumbai's Chhatrapati Shivaji International Airport
(CSIA) and construction of the Navi Mumbai airport will provide a
boost to the job creation by the sector in the Mumbai region.
From a sub sector perspective the maximum number of jobs in
the Mumbai region will be created by road freight followed by the
air freight sector.
Road Freight is expected to create 530,000 and Air Freight around
106,000 incremental jobs.
Similarly, the cargo growth at ports and ease of doing business
will see waterways creating 55,000 jobs.
The report further stated that Rail Freight will also create
6,000 incremental jobs, over the next 4 years (2018 through 2022) in
the region.
The Courier Services sub-sector will also see a growth of 9,000
incremental jobs over the next 4 years (2018 through 2022) in the
In terms of employer's expectations, acquaintance with
logistics automation systems, technical knowhow, time management are
few of the skills that are in demand.
According to the survey, the data also
highlights the growing need for skill development in the sector.
India's ranking on the Logistics Performance Index (LPI) has
risen to 35 (up from 54 in 2014)
Mumbai has the highest skill gap with severe short supply
and lack of junior level talent (with more than 243,000 people)
Commenting on the potential of the sector, Ms. Rituparna
Chakraborty, Co-founder & EVP, TeamLease Services, said here
yesterday ''The sector is undergoing a tectonic shift. Initiatives,
such as four laning of Solapur - Bijapur section of NH 13, the
sanctioning of Metros 2A, 3, 5, 6, 7 corridors, revolutionization of
the warehousing sub sector by the 3PL (Party Logistics) and 4PL
(Party Logistics) players and the adoption of technology will not
only create innumerable job opportunities but also metamorphose the
skills landscape for logistics sector in the Mumbai Region."
More News

Kottayam-Kochi Rubber Market Rates

17 Aug 2018 | 6:07 PM

Kottayam, Aug 17 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal KOTTAYAM RSS FOUR : No Transaction RSS FIVE : No Transaction ISNR TWENTY : No Transaction SIXTY PERCENT LATEX : No Transaction KOCHI RSS FOUR : No Transaction RSS FIVE : No Transaction INTERNATIONAL RATES (BANGKOK) RSS One : 10630 RSS Two : 10503 RSS Three : 10387 RSS Four : 10323 RSS Five : 10228 KUALALUMPUR

SMR TWENTY RS 9407 ($133.

 Sharesee more..

Yes Bank up by 3 76 pc to Rs 392 95

17 Aug 2018 | 5:43 PM

Mumbai, Aug 17 (UNI) Yes Bank on Friday rallied by 3.

 Sharesee more..

Sensex up by 284 32 pts

17 Aug 2018 | 5:42 PM

Mumbai, Aug 17 (UNI) The benchmark index of Bombay Stock Exchange
(BSE) on Friday jumped by 284.

 Sharesee more..

Sarvatra Technologies brings 450th Co-operative Bank on National Financial Switch

17 Aug 2018 | 5:41 PM

New Delhi, Aug 17 (UNI) Sarvatra Technologies, India’s leading end-to-end payments and banking solutions provider, announced that they have successfully on-boarded ‘Sevalia Urban Co-operative Bank’ as 450th co-operative bank on National Financial Switch (NFS).

 Sharesee more..
Sensex recovers to end higher at 37,947 88 pts on firm global cues

Sensex recovers to end higher at 37,947 88 pts on firm global cues

17 Aug 2018 | 5:16 PM

Mumbai, Aug 17 (UNI) The benchmark index of Bombay Stock Exchange
(BSE) rose on Friday by 284.

 Sharesee more..