‘Rising logistics costs, fuel prices affecting revenue, innovation is key’

“Increasing transportation costs and rising fuel prices are affecting overall revenue and profits and Innovation is the only solution to tackle it,” says Gurdeep Singh, Founder & Chairman, Jujhar Group. He adds, “Logistics expenses in India account for approximately 13-14% of its GDP, surpassing the global average of about 8%. Innovation is crucial in this situation. Logistics companies are implementing route optimisation software to strategically plan trips to reduce mileage and fuel consumption. Additionally, establishing strategic partnerships with fuel providers can lead to securing discounted prices. He adds, “Another major obstacle is the need for more drivers. The sector is experiencing an increasing shortage of drivers compared to the need for their services. To tackle this issue, companies are enhancing the appeal of the profession through competitive salaries, better working environments, and the implementation of driver training initiatives. Furthermore, automation is becoming more prevalent, with autonomous trucks on the way, which could help reduce some of the burden on workers.”