The Indian government has set a target to reduce the country’s logistics costs to 9% of its GDP by 2024. Nitin Gadkari, the Union Minister for Road Transport and Highways, has revealed the government’s plan to establish a national logistics policy to streamline the sector. As logistics contributes around 14% to India’s GDP and has the potential to expand further, the government is taking several steps to boost the sector. These measures include enhancing waterways and highways, developing multi-modal logistics parks, truck terminals, and warehouses to strengthen the sector’s infrastructure, and tackling the high logistics costs that have been hindering its growth.
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