Logistics Costs Will Come Down To 9 per cent in 2-3 Years,
09 Dec 2024
2 Min Read
CW Team
Minister of Road Transport and Highways Nitin Gadkari stated that the government aims to reduce India's logistics costs to single-digit levels within the next 2-3 years, in an effort to enhance the country's economic competitiveness. Speaking at the CNBC-TV18 India Business Leader Awards in Mumbai, Gadkari mentioned that currently, logistics costs in India stand at 14-16per cent , while in China, it is 8per cent , and in European countries and the USA, it is 12per cent . He explained that the introduction of expressways would significantly reduce travel times, such as cutting the journey from Delhi to Mumbai to 12 hours and from Chennai to Bengaluru to 2 hours. He expressed confidence that, due to these developments, logistics costs in India would decrease to 9per cent within two to three years.
Gadkari also highlighted the importance of exploring hydrogen as a key fuel for the future, emphasizing the role of biomass and biodigester technologies in producing hydrogen and CNG. He added that India was poised to become a global leader in alternative and biofuels within the next decade.
The minister mentioned that the total toll revenue in the country is currently Rs 520 billion, with projections indicating it could reach Rs 1.4 lakh trillion within two years. He reassured that there were no funding issues for projects, as every project undertaken is economically viable. With a budget of Rs 2.8 trillion, Gadkari confirmed that he has strong backing from the Finance Ministry, and that infrastructure development, particularly in sectors like water, power, transport, and communication, has been a priority for the Prime Minister.
Regarding challenges in projects such as the Worli-Bandra Link, Gadkari stressed the need for innovative strategies and collaborative efforts to ensure timely completion of projects.
The event, themed 'Leadership in Action,' honored leaders who demonstrated conviction, innovation, and purposeful disruption. This year鈥檚 India Business Leader Awards recognized visionary leaders for their resilience, foresight, and transformative impact
Minister of Road Transport and Highways Nitin Gadkari stated that the government aims to reduce India's logistics costs to single-digit levels within the next 2-3 years, in an effort to enhance the country's economic competitiveness. Speaking at the CNBC-TV18 India Business Leader Awards in Mumbai, Gadkari mentioned that currently, logistics costs in India stand at 14-16per cent , while in China, it is 8per cent , and in European countries and the USA, it is 12per cent . He explained that the introduction of expressways would significantly reduce travel times, such as cutting the journey from Delhi to Mumbai to 12 hours and from Chennai to Bengaluru to 2 hours. He expressed confidence that, due to these developments, logistics costs in India would decrease to 9per cent within two to three years.
Gadkari also highlighted the importance of exploring hydrogen as a key fuel for the future, emphasizing the role of biomass and biodigester technologies in producing hydrogen and CNG. He added that India was poised to become a global leader in alternative and biofuels within the next decade.
The minister mentioned that the total toll revenue in the country is currently Rs 520 billion, with projections indicating it could reach Rs 1.4 lakh trillion within two years. He reassured that there were no funding issues for projects, as every project undertaken is economically viable. With a budget of Rs 2.8 trillion, Gadkari confirmed that he has strong backing from the Finance Ministry, and that infrastructure development, particularly in sectors like water, power, transport, and communication, has been a priority for the Prime Minister.
Regarding challenges in projects such as the Worli-Bandra Link, Gadkari stressed the need for innovative strategies and collaborative efforts to ensure timely completion of projects.
The event, themed 'Leadership in Action,' honored leaders who demonstrated conviction, innovation, and purposeful disruption. This year鈥檚 India Business Leader Awards recognized visionary leaders for their resilience, foresight, and transformative impact
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
