The focus of the Indian government over the past few years has been on accelerated growth through improved bilateral trade and foreign investment policies. India has garnered tremendous goodwill and become a global brand for trade development, thanks to the proactive government initiatives.
According to a study conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the logistics and supply chain market in India is expected to grow and reach USD 307 billion by the year 2020, recording a CAGR of 16 percent on an average. The growth in the sector is being driven by the rise of international business in India which is itself the result of the improved bilateral trade. However, the factors that have contributed towards India leveraging its growth potential to achieve fruitful bilateral trade and increasing its global footprint are as below:
