India targets single-digit logistics costs in five years

23 Sep 2024 CW Team

India plans to reduce its logistics costs to a single-digit percentage of GDP within the next five years, Union Road Transport and Highways Minister Nitin Gadkari announced during the 'Deloitte Government Summit.' He emphasised that the ongoing construction of highways and expressways will play a crucial role in achieving this goal.

Currently, logistics costs in India range from 7.8% to 8.9% of GDP, according to the National Council of Applied Economic Research (NCAER). Lowering these costs is expected to boost economic efficiency and improve the nation's global competitiveness.

Gadkari also outlined his vision for India's automobile industry, aiming to make it the largest globally. India, now the third-largest automobile market after the U.S. and China, has seen the industry's value jump from Rs 7.5 trillion in 2014 to Rs 22 trillion in 2024.

In his broader economic outlook, Gadkari stressed the importance of increasing farmers' purchasing power to drive growth and advocated for boosting exports while reducing imports. He also called for the development of 'smart villages' alongside smart cities.

Gadkari further underscored the importance of performance audits over financial audits in organisations to enhance efficiency and productivity. These initiatives form part of India's strategy to solidify its position as a leading global economy. (ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..