Nitin Gadkari stresses on need to reduce logistics cost to boost development

Union Minister for Road Transport and Highways Nitin Gadkari has stressed on the need to reduce logistics costs to boost development of industry.

“Logistics costs are 12 per cent in the US, 12 per cent in European countries and 8 to 10 per cent in China whereas in India, it is around 14 to 16 per cent. We need to build appropriate infrastructure to reduce logistics costs, a major issue faced by Indian industry,” Gadkari said.

Speaking at a conference on “Development of Maharashtra from a New Budgetary Perspective” organized by Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) in Mumbai, he said that the PM Gati Shakti National Master Plan will enable development of cargo terminals, setting up Multi Modal Logistics Parks and increasing coverage of National Highways.