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22
November 2018
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integrated logistics (The
Total Investment & Insurance Solutions)
The government is preparing
an integrated logistics plan to fast-track movement of goods and cut
transactions cost of businesses, Commerce and Industry Minister Suresh Prabhu
said Thursday. He said that the plan would integrate all sectors -- rail, road,
ship and air.
"We are preparing an integrated logistics plan and also a portal to make logistics efficient and cost-effective in the country," he said here at the CILT Expo 2018.
Promoting trade and manufacturing are linked with logistics, and improvement in its efficiency would help boost economic development, he added.
"We are preparing an integrated logistics plan and also a portal to make logistics efficient and cost-effective in the country," he said here at the CILT Expo 2018.
Promoting trade and manufacturing are linked with logistics, and improvement in its efficiency would help boost economic development, he added.
The
minister said there were disruptions happening in the global supply chain due
to the rising trade tensions between countries such as the US and China,
creating huge opportunities for Indian logistics players. Formulation of an
integrated plan is important as the cost of logistics for India is about 14 per
cent of its gross domestic product (GDP).
On the
other hand, it is only 7-8 per cent in developed countries. Indian logistics
industry is estimated at around USD 215 billion, which is growing at over 10
per cent annually.
Speaking at the event, Railway Board Chairman
Ashwani Lohani said the railways ministry is working on several projects
including construction of dedicated freight corridors to cut logistics time and
cost of industry.
To
improve efficiency, the ministry is working on bridging infrastructure gap,
doubling rail tracks, electrification of tracks, and construction of separate
corridors for freight, he said.
Lohani said that railways is looking to
increase track-related work to 9,000 km this fiscal and 12,000 km in 2019-20,
as compared to 5,300 km carried out in 2016-17.
"We are on our track to do this
work," he said adding the work on eastern and western freight corridors
would be completed by March 2020; and electrification of entire railways would
be done by 2022.
Talking about station development programme,
he said work on Gandhinagar and Bhopal stations would be over in the next 2-3
months.
To
improve service delivery, he said the ministry is looking at simplifying
processes and making it more consumer friendly.
"We are working on three components --
cultural transformation, large-scale process reforms, and changing the
structure of organisation," he added.The Total Investment & Insurance Solutions
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