Indian Govt Aims to Check Logistic Costs to 9% of GDP

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(Image Courtesy: Mercargo)

In his address to stakeholders of the shipping industry, Minister of Shipping Mansukh Mandaviya said the Centre plans to bring down logistics cost down from 14 percent of the GDP to 9 percent.

The Minister was speaking at FICCI’s summit on Fueling the Maritime Sector: IMO 2020 and Beyond. He said that he would represent India and its interests at the next meet of International Maritime Organisation (IMO).

He also stated that very little has been done on coastal shipping and inland waterways in the past, and there is a need to work on the grassroots level in the shipping sector.

Citing avenues for job creation in shipping sector, he said that more than 50 lakh jobs can be created. “If there are 2 lakh ships with a crew of 20 in each, we can easily reach this target,” he said.

The government is also considering alternative fuels such as LNG and methane to reduce emissions and comply with international standards.

(Source: Money Control)

Sea News, July 25