New Delhi: Nitin Gadkari, the Minister of Road Transport and Highways, stated on Thursday that India's logistics expenses will decrease to single digits in the next two years. Speaking at an event hosted by NITI Aayog, Gadkari mentioned that the ministry is in the process of building numerous highways and expressways, with the aim of decreasing India's logistics expenses. "In two years, we plan to decrease our logistics cost to 9 percent," he stated.
The NCAER's quick estimates show that in fiscal year 2021-22, the logistics cost in India was estimated to be between 7.8 pc and 8.9 pc of GDP. Gadkari mentioned that India has vast opportunities to export alternative fuels and biofuels. He also mentioned that low-grade coal can be used to produce methanol.
The minister also stated his goal to lead the Indian automobile industry to the top rank globally. He mentioned that India had surpassed Japan last year to become the third-largest automotive market globally, trailing only the US and China. India's car industry increased from Rs 7.5 lakh crore in 2014 to Rs 18 lakh crore in 2024, while generating the most employment opportunities, according to Gadkari.
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