Improvement in logistics to boost exports
Higher logistics cost in India is one of the biggest impediments in export growth and country’s economic development and efforts are on to reduce it, says Nitin Gadkari, Minister of Road Transport and Highways.
Reducing logistics costs can boost exports 1.5 times in the country besides leading to faster economic development,” said Nitin Gadkari, Road Transport and Highways Minister, GoI, addressing the second Smart Transportation Infra Summit & Expo organised by the PHD Chamber of Commerce and Industry. The current logistics cost in the country is as high as 18 per cent which is much higher than China, Europe and if reduced to the level of 10 per cent, the economic growth will be propelled. Assserting the need and for augmenting infrastructure, he said that the government is in the process of developing it and smart solutions like waterways are also there which would be cost effective and pollution free. He also said that the government is contemplating to reduce import duty on used cooking oil to be used in biodiesel. “We have requested commerce ministry to reduce import duty on cooking oil,” he added. He emphasised the use of water transport, electric transport, bio CNG, ethanol, bio diesel and petrol in order of priority for smart transportation.
The use of water transport, electric transport, bio CNG, ethanol, bio diesel and petrol in order of priority for smart transportation