CHENNAI: The Indian road logistics sector is likely to see around 11%-13% growth in FY23, said the latest report by ICRA. This is up from its earlier estimate of 7%-9% growth.
The upward revision is on account of a favourable demand environment coupled with firm freight rates. The numbers will look better thanks to base effect given that FY2022 had a weak first quarter while the second wave of Covid-19 raged.
According to ICRA, revenue growth will be at a higher single digit for FY2024 over FY2023 on an elevated base and continuation of a healthy demand scenario.
