Reduce logistics cost to increase India’s exports: Gadkari

The government is working to bring down logistics cost to 9 per cent of GDP in the next three years from the current 14-16 per cent, said Nitin Gadkari, Union Minister for Road, Transport and Highways. He said, India’s exports will increase when its logistics cost will come down to single digit. He was speaking at an event organised by industry chamber CII . “The government is going by certain estimates which suggest that logistics cost in India is in double digits. The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost competitiveness of industry and cut logistics costs. Earlier this year, the commerce and industry ministry had said that a task force will be set up for formulating a framework to determine logistics costs in the country.”