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September 4, 2023 2:59 PM IST

To achieve 5 trillion dollar economy, reduction of logistics cost is important: Gadkari

Business | Nitin Gadkari | Road Transport and Highways Minister | BOT Model | 5 trillion dollar economy | National Highways Authority of India | National Highways | Infrastructure Development Corporation | Economy

Road Transport and Highways Minister Nitin Gadkari has emphasized on the BOT Model, which he said, will help express highways, along with doing maximum and quality work in much less time.” He said that a marked reduction in the logistics cost is important to achieve the 5 trillion dollar economy.

While addressing the plenary session of meeting Regional Officers of MoRTH, National Highways Authority of India (NHAI), and National Highways & Infrastructure Development Corporation LTD on September 04, Gadkari also said that the logistics sector can provide huge employment opportunities, if its potential is harnessed to the fullest.  

It is important to note that BOT model helps in doing quality and maximum work in less time. Gadkari also focused on bringing in innovative models, which can help in multiplying the economy, reduction in logistics costs, employment generation and better public service. He said, Atmanirbhar Bharat and a $5 trillion economy cannot be achieved without reducing logistics costs. For this, good express highways are necessary.

Prime Minister Narendra Modi launched the National Logistics Policy last year by terming it as yet another important step towards becoming a developed nation. In recent times, logistics has become the centerpiece of India’s policy making in its journey towards becoming a developed nation and a leader in international trade.

The Indian Council for Research on International Economic Relations (ICRIER) also submitted a report, which aims to improve the overall logistics system by partnering with industry and government. The government is making a conscious effort to change the mindset of looking at things from the old perspective and living in hesitations of history.

The government is focused on taking digital connectivity across the length and breadth of the country, with 4G and broadband internet reaching almost every corner of the country. The seamless digital connectivity has enabled India to deliver services on time during the COVID period by facilitating work from home.

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