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Indian logistics industry is estimated at around USD 215 billion

  • calendar 30-Nov-2018
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Indian logistics industry is estimated at around USD 215 billion

New Delhi: Senior decision makers from across the logistics and transport sector gather today to have stimulating discussions on important industry sectors, including food, pharmaceuticals, inland container depots, warehousing facilities, cold storage and freight transportation via road, rail, air and water. Shri Suresh Prabhu, Hon’ble Minister, Ministry of Commerce & Industry and Civil Aviation, Govt. of India was the Chief Guest at the opening ceremony. "The government is preparing an integrated logistics plan to fast-track movement of goods and cut the transactions cost of businesses The plan would integrate all sectors - rail, road, ship, air and waterways. We are preparing an integrated logistics plan and a portal is up and running to make logistics efficient and cost-effective in the country," said the Minister. He further added, “Promoting trade and manufacturing are linked with logistics, and improvement in its efficiency would help boost economic development. There are disruptions happening in the global supply chain due to the rising trade tensions between countries such as the US and China, creating huge opportunities for Indian logistics players. Formulation of an integrated plan is important as the cost of logistics for India is about 14 per cent of its gross domestic product (GDP). On the other hand, it is only 7-8 per cent in developed countries. Indian logistics industry is estimated at around USD 215 billion, which is growing at over 10 percent annually.”

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