According to a release from the Ministry of Commerce and Industry, for the first time, India will have a comprehensive and scientifically derived estimate of logistics costs, using a hybrid methodology that combines secondary data with nationwide surveys.
Union Minister of Road Transport and Highways, Nitin Gadkari, on Sunday affirmed that India's logistics cost will come down to single-digit by the end of 2026.
Union Minister Nitin Gadkari asserted on Monday Indian road infrastructure will be similar to America's in another two years, backing his argument that his government has ramped up spending in roads and highways over the past decade.
The government has been aiming to trim India's elevated logistics costs by as much as five percentage points by 2030, from the current 13-14 per cent of gross domestic product (GDP) to 8-9 per cent of the GDP.
India's logistics cost to GDP which is currently at 16 per cent will fall to as low as 9 per cent during the said period, Union minister of road transport and highways Gadkari said, while addressing the annual convention and 95th general meeting of industry body FICCI.