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Fuel And Road Costs Can Reduce Logistics To 9%: Nitin Gadkari

Union Minister for Road Transport and Highways, Nitin Gadkari on Tuesday said that changes in the cost of fuel and road can bring the logistics cost to nine per cent.Speaking at three day Rising Rajasthan Global Investment Summit 2024 in Jaipur,
The article from BusinessWorld discusses statements made by Nitin Gadkari, India's Minister for Road Transport and Highways, regarding the logistics sector. Gadkari highlighted that the logistics cost in India, which currently stands at 14-16% of GDP, could potentially be reduced to around 9% through measures like lowering fuel costs and improving road infrastructure. He emphasized the government's efforts to decrease logistics costs by promoting alternative fuels like biofuels and electricity, which would reduce dependency on imported oil. Additionally, Gadkari mentioned the importance of developing waterways and enhancing road connectivity to streamline logistics operations. He also pointed out the need for better warehousing and the adoption of technology to further cut down costs, aiming to make India's logistics sector more competitive on a global scale.

Read the Full Businessworld Article at:
https://www.businessworld.in/article/fuel-and-road-costs-can-reduce-logistics-to-9-nitin-gadkari-541759

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