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BHUBANESWAR: Pramod Kumar Mishra, principal secretary to prime minister Narendra Modi, while attending a conference at Sambalpur University on Saturda.
India plans to increase travel speeds on its national highway network from 47 kmph to 85 kmph by fiscal 2031-32. The plan includes decongesting highways and building high-speed corridors, with India spending Rs 19.5 lakh crore on this upgrade. This could reduce logistics costs to 9-10% of GDP, similar to countries like Singapore and the US.
Efficiency becomes particularly salient when applied to logistics. For logistics, efficiency translates into reduced costs, which have far-reaching implications for a country's economy. Lower logistics costs mean more efficient trade and transportation, reducing consumer prices and heightened business productivity. Countries with streamlined logistics can gain a competitive advantage in the global market, making their products and services more attractive due to lower costs.
India Business News: India Inc will soon have access to a single app that will allow them to track their cargo in real-time across all modes of transportation - land, rail
“The kind of investment that India is making in both physical and digital infrastructure....all that is creating an enabling environment where we will start getting good and credible data, on the basis of which we can do data-based planning and ultimately data based policy making as well,” DPIIT secretary Rajesh Kumar Singh said while releasing the study.