Logistics cost will be in single digits in 5 years: Nitin Gadkari
logistics cost will come down to single-digit within the next five years as the country builds a network of world-class highways and expressways, road transport and highways minister Nitin Gadkari said on Thursday.
Addressing the 'Deloitte Government Summit', Gadkari said the ministry is constructing several highways and expressways which will help reduce India's logistics cost. «I am confident that within five years our logistics cost will be in single-digit,» he said.
The reduction in logistics costs is crucial to enhance India's economic efficiency and global competitiveness.
The Economic Survey of 2022-23 pegged the logistics cost in India in the range of 14-18% of GDP against global benchmark of 8%.
Gadkari further said he aimed to make the Indian automobile industry number one in the world. «Last year, India had overtaken Japan to become the third-largest automobile market in the world, only behind the US and China,» he said, adding that the size of India's automobile industry has gone up to ₹22 lakh crore in 2024 from ₹7.5 lakh crore in 2014.
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