Revenue of Indian logistics companies to fall 6-8% in FY2021: ICRALogYcode
In its credit rating agency’s latest Q3 FY2021 report, ICRA expects Indian logistics companies’ sales declining 6-8 percent in the fiscal year 2021. While it falls in the context of the COVID-19 pandemic and 40-day lockout, the sector’s medium-term growth prospects remain good, backed by stimulants on the demand and supply side.
The near-term prospects of the domestic freight transport market were adversely affected by the dramatic increase in the country’s COVID -19 pandemic, and the 40-day lockdown implemented to contain it. In addition to the resulting recession, with limitations on the production of non-essential products and a lack of fleet and drivers to transport essentials.