Streamlined Costs: A New Era in India's Logistics Sector
A DPIIT report estimates India's logistics cost will be 7.97% of GDP in 2023-24, showcasing a notable finetuning in cost management. The reduction owes much to initiatives like PM Gati Shakti, dedicated freight corridors, and Sagarmala project. It's India's first comprehensive and scientific logistics cost analysis.
- Country:
- India
The logistics cost for India is forecasted to constitute 7.97% of the GDP for the financial year 2023-24, according to a DPIIT report.
This new estimate, prepared by NCAER, indicates a slower growth rate in logistics costs over the past years thanks to strategic projects such as the PM Gati Shakti National Master Plan, dedicated freight corridors, and more.
The recent report corrected previous misrepresentations of logistics costs, providing comprehensive insights into transport modes and highlighting rail as a cost-efficient method.
(With inputs from agencies.)
- READ MORE ON:
- logistics
- India
- 2023
- PM Gati Shakti
- DPIIT
- freight
- cost-efficient
- NCAER
- transport
- Sagarmala
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