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India’s Logistics cost to come down by 9 per cent
India's logistics costs, which are currently 16 per cent of the country's GDP, will be reduced to 9 per cent by the end of 2024, thanks to the country's expanding infrastructure, said Union Minister Nitin Gadkari. Addressing the annual convention and 95th AGM of FICCI, the minister promised that the country's logistics costs, which are currently 16 per cent of GDP, will fall to single digits, eventually reaching 9 per cent of GDP by the end of 2024. "It will help us get more exports," Gadkari said, adding that the time has come to expand our business and presence in the international market. He went on to say that by the end of 2024, India's road infrastructure would be up to American standards.
Gadkari added that India is on the path to creating an inclusive Bharat by following Prime Minister Narendra Modi's vision of increasing investment, economic growth, and job creation in order to achieve sustainable development. However, he stated that there is a need for cooperation, coordination, and communication among all stakeholders. Gadkari also mentioned battery chemistry research, saying that India should be a leader in the field. He went on to say that the government wants to double the automobile industry to Rs.15 trillion. This will create new jobs and position India as one of the world's largest automobile manufacturers.
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