Efficient logistics ecosystem will drive us through Amrit Kaal to become Atmanirbhar Bharat: Mr. Piyush Goyal

While speaking at the one-day workshop on "Logistics Cost Framework" held by DPIIT, Ministry of Commerce and Industry, in partnership with Asian Development Bank (ADB) in New Delhi, Mr. Piyush Goyal, Union Minister of Commerce and Industry, Textiles, Consumer Affairs, Food & Public Distribution, highlighted that the journey from India@75 to India@100 needs an efficient logistics ecosystem to drive us through Amrit Kaal to become Atmanirbhar Bharat.

The PM GatiShakti Initiative, together with other infrastructure development initiatives like Bharatmala, Sagarmala, Dedicated Freight Corridor (DFC), and others, will reduce India's logistics costs from double digits to single digits.

He recommended accounting for India's geography, terrain, size, and complexity, as well as trade volume and value, among other factors, when estimating the logistics cost.

India is now the 5th biggest country in the world, up from being the 10th largest in terms of GDP nine years ago, according to him. Due to the significant infrastructure projects that will be completed between April 2023 and March 2024, India will overtake the second and 3rd largest nations in the world within the next two to three years.

He further added that E-commerce, smarter FTAs, adopting international quality standards, good manufacturing practices, leveraging on our successful startups ecosystem, utilizing National Education Policy 2020, drone technology, artificial intelligence, strong PPP collaborations and Centre-State partnerships will work towards catalysing India’s development. Logistics in India as a policy tool will help achieve ‘Serve the world from India’ and ‘Make in India for the world.’

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.