India’s logistics cost has come down by 4 per cent: Ashwini Vaishnaw

India’s logistics cost has come down by 4 per cent, said Ashwini Vaishnaw, Union Minister for Railways, while addressing media on Cabinet decisions adding that the Union cabinet has also approved two projects of the Railway Ministry, with the total cost being ₹6,405 crore. As per the reports, Vaishnaw also pointed out that infrastructure projects worth ₹4.58 lakh crore have been approved by the Cabinet in the last one year, translating into opportunities worth ₹10 lakh crore for youth and the middle class. “During PM Modi’s historic third term, many projects have been undertaken to reduce transportation and logistics costs. IIM Bangalore and IIM Calcutta’s recent study shows that the investments in transportation have caused a reduction in the country’s logistics cost by about 4%,” Vaishnaw said. “Every percentage point reduction in logistics cost means that there will be much more competitive industries. We can export more. We can keep production costs low,” he said. “In the last one year, around ₹4.5 lakh crore of investments have been approved for transportation projects. This will play a big role in helping us achieve our goal of Viksit Bharat,” Vaishnaw said.