Minister of Road Transport and Highways Nitin Gadkari said the government plans to cut India’s logistics costs to single-digit levels in the next 2-3 years, aiming to boost India’s economic competitiveness.
Nitin Gadkari speaking at the CNBC-TV18 India Business Leader Awards in Mumbai on Saturday said, "today the logistics cost in India is 14%-16%, in China, it is 8% and in European countries and USA it is 12% and now because of expressways it will be 12 hours from Delhi to Mumbai, two hours from Chennai to Bengaluru, we will reduce the logistics costs as far as speed is concerned and I am sure that within two to three years the logistics cost will be nine percent."
Nitin Gadkari also stressed the importance of exploring hydrogen as a crucial fuel for the future and emphasised the role of biomass and biodigester technologies in producing hydrogen and CNG. Gadkari remarked that India is set to take the lead in alternative and biofuels on a global scale within the next 10 years.
He also noted that the total toll revenue is currently Rs 52,000 crore, with projections suggesting it will reach Rs 1.4 lakh crore in two years.
“We are building green express highways, and there is no issue regarding funding because every project we undertake is economically viable," he added.
The minister said that with a budget of Rs 2.8 lakh crore, he has strong backing from the Finance Ministry, and that infrastructure development, particularly in sectors like water, power, transport, and communication, has been a priority for the Prime Minister.
To address challenges like those encountered in the Worli-Bandra Link project, he underscored the need for innovative strategies and collaborative efforts to ensure timely project completion.
The CNBC-TV18 India Business Leader Awards (IBLA), sponsored by Standard Chartered Bank, celebrated its 20th edition on December 7, 2024, in Mumbai.
The event, with the theme 'Leadership in Action,' honoured leaders who demonstrate conviction, innovation, and purposeful disruption. This year’s IBLA recognised visionary leaders for their resilience, foresight, and transformative impact.
The event brought together distinguished individuals from the business, economic, policy, and cultural domains.
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