Need to bring synergy among various segments to help realise country's potential: Prabhu
With a view to discuss issues and challenges related to logistics, Department of Commerce, Ministry of Commerce & Industry, in partnership with FICCI and the World Bank Group, is holding a Global Logistics Summit from 5-6 April, 2018.
Speaking at the Occasion, Commerce and Industry Minister, Suresh Prabhu said that factors like cost of power, cost of logistics and macro-economic issues are responsible for the India’s potential not fully realized.
He further added that there are large number of players, ministries and departments that deal with logistics but there is no single nodal agency to deal with the problems of logistics.
Government is investing exponentially in infrastructure sector to improve logistics, he added.
Thus in this direction, he said “we must put 10 percent of the GDP into infrastructure and that we need to do year after year”
He said that the challenge is to bring different modes of transportation into one single actionable point and thus it is necessary to bring multi model transport.
Also he put emphasis on the need for synergy among various segments to immensely benefit from India’s potential.
Efficient logistics is critical for countries like India to harness trade and facilitate greater and faster integration with both the domestic as well as world economy.
To keep up with the growth in demand for logistics services, it is important to develop a consistent approach to logistics across infrastructure, services and different modes of transportation. (KNN/YV)