Union Minister for Commerce & Industry and Civil Aviation Suresh Prabhu said the country would have 56 new airports functional in the next few years. Speaking at the two-day Global Logistics Summit being held in New Delhi, Prabhu underlined that efficient logistics was critical for countries like India to harness trade and facilitate greater and faster integration with both domestic as well as world economy.
The minister said bringing all the stakeholders together would create the right platform to improve logistics and connectivity vital to increase intra-state and international trade flows.
Indian logistics industry is estimated to be worth around US $ 215 billion in 2019-20, growing at over 10 per cent annually, with significant improvements in infrastructure such as railways, highways, inland waterways, aviation and ports in the last decade or so. India has improved its ranking in the Logistics Performance Index (prepared by the World Bank) from 54 in 2014 to 35 in 2016.
Speaking on the occasion, Prabhu also said, “Logistics is a key thrust area of the government to work through which society will benefit, businesses will develop, international trade will rise and new investments will flow into the country.”
— Suresh Prabhu (@sureshpprabhu) April 5, 2018
The Department of Commerce, Ministry of Commerce & Industry, in partnership with FICCI and the World Bank Group, is organising the summit on April 5 and 6 to support awareness building and develop better understanding on these issues.
“The Summit provides an opportunity to discuss the above issues among global experts, academics, government officials and private sector and industry representatives,” said a statement issued by the Press Information Bureau.