NEW DELHI (Economy India): Union Minister for Road Transport and Highways, Nitin Gadkari, announced on Thursday that India’s logistics costs are projected to fall to single digits within the next five years. This reduction is expected to be achieved through the construction of new highways and expressways by his ministry.
Expansion of Roads and Expressways
Speaking at the ‘Deloitte Government Summit,’ Gadkari stated, “We are building several major highways and expressways. This will help reduce logistics costs.” He emphasized that these infrastructure projects would improve the movement of goods and enhance travel convenience.
Benefits of Lower Logistics Costs
Gadkari highlighted that the expansion of the road network will lead to a reduction in transportation costs. “Our goal is to bring logistics costs to single digits through improvements in road infrastructure,” he said. This reduction is anticipated to benefit businesses and boost economic development.
Ministry’s Plans
The minister explained that the ministry is focusing on the construction of new highways and expressways across the country. These projects aim to connect major trade centers and support economic activities. He stressed that the goal is to enhance business efficiency and make the logistics system more efficient.
Impact on Logistics Costs
The development of new road projects and expressways is expected to significantly reduce logistics costs. Gadkari noted, “These projects will not only improve the transportation sector but also enhance the competitiveness of Indian industries.” Lower transportation costs will make businesses more competitive and support economic growth.
Gadkari concluded by stating that improvements in road construction and infrastructure will strengthen the Indian economy and encourage business growth.
(Economy India)
Source: (PTI)
