India targets single-digit logistics costs in five years
WAREHOUSING & LOGISTICS

India targets single-digit logistics costs in five years

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)

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)

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?