ICRA Ratings on Tuesday said the outlook for the Indian road logistics sector continues to remain stable, supported by improved economic recovery in September quarter, increased pace of vaccination and decline in fresh Covid-19 cases from June onwards.
Improved economic activities in second quarter of the ongoing fiscal year will spur growth momentum for the road logistics sector in the second half of the year, ICRA said.
The sector witnessed moderation in freight volumes sequentially across different segments (road, rail and sea) in June quarter as the resurgence of Covid-19 cases by the end of 2020-21 stalled the economic recovery that was visible across most sectors during the second half of 2020-21, ICRA said in a statement.
Given the impact of the second wave on most end-user industries, freight movement was affected.