With the kind of roads now, logistics costs reduced by 6 pc: Union Minister Nitin Gadkari
New Delhi [India], June 9 (ANI): Union Minister for Road Transport and Highways Nitin Gadkari on Monday stated that India's logistics costs have decreased by six per cent from 16 per cent, attributing the reduction to significant improvements in road infrastructure under Prime Minister Narendra Modi-led NDA government.
In an interview with ANI, Gadkari highlighted the critical role of infrastructure development in achieving PM Modi's vision of making India a 'Vishwa Guru' and the world's third-largest economy with a target of a 5 trillion dollar economy.
'It is the dream of our Prime Minister that India becomes a Vishwa Guru, the third-largest economy in the world and a 5 trillion dollar economy. To fulfil this dream, we will have to increase exports; only then will there be growth in the agricultural, service, and industrial sectors. There will be employment, and wealth will be created and for that, infrastructure needs to be developed,' Gadkari said.
The minister underscored that the reduction in logistics costs is expected to boost India's export competitiveness, fostering growth in the agricultural, service, and industrial sectors.
Speaking on the NDA government's achievement in completing 11 years at the centre, Gadkari emphasised that high logistics costs, which were at 16 per cent, were a major hurdle for India compared to China's 8 per cent and 12 per cent in the United States and European countries.
'Our biggest problem was that the logistics cost of our country was 16 per cent, China was at 8 per cent, and America and other European countries were at 12 per cent. Our roads and ports were bad. Fuel was expensive, and there were delays due to traffic jams. Now, with the kind of roads we have made, our logistics cost has reduced by 6 per cent and by next year, we will come to 9 per cent,' the Union Minister stated.
'Saving from this six per cent, our exports will increase, we will become more competitive and our country will become a Vishwa Guru, and that's why we are working to improve the infrastructural development,' he added.
The Union Minister further noted that Indian road infrastructure will be similar to that of the US in another two years, as his government has, over the years, ramped up spending on roads and highways. (ANI)
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