Union Minister of Road Transport and Highways, Nitin Gadkari, predicts that India’s logistics costs will decrease to 9% with the ongoing development of road infrastructure. Recent research conducted by IIT Bangalore, IIT Kanpur, and IIT Chennai revealed that enhancements in road infrastructure have already lowered logistics expenses by 6% to approximately 10%.
Gadkari highlighted that India previously had logistics costs amounting to 16% of GDP, higher than China’s 18% and America and Europe’s 12%. He emphasized the importance of infrastructure, technological advancements, and sustainable practices in enhancing exports while presenting the 57th EEPC India National Awards to leading engineering exporters.
The minister mentioned the ongoing development of 36 green express highways that are expected to revolutionize the economic landscape concerning logistics costs. Additionally, he noted that the Indian two-wheeler industry is currently exporting nearly half of its production and attracting global automobile giants to manufacture and export vehicles from India.
Gadkari expressed confidence in India’s potential to lead globally in alternative fuels and biofuels through technological innovation and research. He set a five-year goal to achieve the top position in these sectors and encouraged the industry to adopt electric trucks for transportation from factories to ports.
