Future Logistics, the captive arm of the Future Group, is planning to set up a logistics institute in the country. The initiative has been taken to solve the manpower crisis in the industry.
An top official at Future Logistics said, ?We are in talks with various management institutes in the country to set up an institute for training manpower in the logistics sector.?
He also added that the shortage could pose a serious threat to the logistics industry, which is growing at a rapid pace.
Prior to Future Logistics, Transport Corporation of India (TCI) and DRS Logistics had set up similar institutes, according to sources. However, the Future group official did not disclose any details about the institute.
Future Logistics may also foray into courier service, road transportation, freight forwarding and cold chain infrastructure through a string of joint ventures. In fact, the company does not even have adequate manpower to run its own day-to-day business.
A senior DHL official said, ?The rapid evolution of this industry in India, both in terms of scale and scope of services, is creating the need for a new set of skills along with an ever increasing requirement of skilled and trained manpower.
The logistics industry is evolving rapidly and in order to get skilled manpower, we need to look into various options like setting up an institute.?
An industry report reveals that the institute is mainly being set up to upgrade the knowledge base of truck drivers, who lack basic technical skills.
The report estimates that while there are around three million truck drivers for middle and heavy commercial vehicles in the country, this number is likely to swell to nearly 51 million by 2015. Even 50% of drivers in India are trained, almost 125 institutes would be required in the next seven to eight years.
Future Logistics also wants become a full-fledged logistics player and focus on sectors like textiles, consumer durables and pharmaceuticals.