What are the factors contributing to India's reduced logistics cost according to Gadkari
India’s logistics cost is expected to decrease to single-digit percentage in two years according to Gadkari.
1. Improving infrastructure: Upgrading and modernizing transportation infrastructure such as highways, railways, and waterways to facilitate smoother and more efficient movement of goods.
2. Implementation of technology: Integration of technology solutions like GPS tracking, e-way bills, and digital documentation to streamline logistics operations and reduce manual errors.
3. Simplification of regulations: Easing bureaucratic processes and reducing red tape to cut down on delays and bottlenecks in supply chain operations.
4. Promoting multimodal transportation: Encouraging the use of multiple modes of transportation like road, rail, and waterways to optimize logistics routes and reduce overall costs.
5. Enhancing efficiency: Focusing on improving supply chain efficiency through better inventory management, warehousing practices, and last-mile delivery strategies.
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6 months ago