Indian businesses building more resilient supply chains globally: Report

Indian businesses are deploying innovation and technology in supply chains to capitalise on opportunities arising out of the shifting geopolitical and trade landscape, a new report showed today. 

Indian companies are turning to technology to build more resilient supply chains, with 66% employing or planning to employ augmented or virtual reality for troubleshooting and repairs surpassing the 54% global average, according to a report by a multinational logistics company.

Around 79% of Indian firms are employing or planning to employ artificial intelligence (AI), big-data analytics, and predictive analytics for real-time insights and disruption forecasting, up 7% on the global average, the data showed.

“The findings reflect the sentiment of Indian businesses that have not only embraced innovation through technology but also effectively leveraged initiatives under the public digital infrastructure created by the government of India,” said Rizwan Soomar, CEO and MD of a logistics company.

Around 80% of Indian firms are utilising the Internet of Things (IoT) and radio frequency identification for real-time tracking and monitoring, 9% higher than the global average.

India has implemented the national logistics policy and the Unified Logistics Interface Platform (ULIP) with an objective of providing easy access to data for all stakeholders.

“These, along with the country’s focus on strengthening assets like free trade warehousing zones, rail connectivity, and multimodal logistics parks will support the country’s goal of raising manufacturing to 25% of GDP by 2025 from 17.7% currently,” the report noted.

(Source: IANS)

-Edited for style

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