Need of the hour is to reduce logistics cost: Piyush Goyal

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NEW DELHI :
Commerce and Industry Minister Piyush Goyal on Wednesday mentioned the want of the hour is to reduce logistics value in the nation as India can’t be aggressive if this value stays excessive.

He additionally mentioned the investments in the Sagarmala mission will increase the nation’s maritime infrastructure, increase freight corridors, make freight cheaper and produce down the present logistics value, which is estimated to be about 13-14 per cent.

The investments would assist in decreasing this value to a extra acceptable benchmark of eight per cent, and that is “the need of the hour today and India cannot be competitive as long as our logistics cost remain so high”, he mentioned at the Maritime India Summit.

The Sagarmala mission goals at augmenting infrastructure in coastal areas of the nation.

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