Chennai:
The union minister of Shipping, Road Transport and Highways,
T R Baalu, on Thursday wooed investors in Singapore to
avail the innumerous business opportunities thrown up
by the infrastructure revolution happening India.
Inaugurating a conference on 'Gateway to Logistic Opportunities
in India' jointly organised by the Federation of Indian
Chamber of Commerce and Industry (FICCI) and the Singapore
Business Federation (SBF) in Singapore, Baalu said as
India further integrated itself with the global market,
there was going to be rapid growth in international and
domestic trade cargo volumes.
"To facilitate the seamless movement of such freight
traffic, an efficient transport network of roads, ports,
airports and railways was essential," an official
release press release quoting the Minister, said. In India,
the total logistics costs constituted nearly 10 per cent
of the GNP of which about 40 per cent was due to transportation
alone.
Recalling
the words of John F Kennedy that it was not the wealth
that built the roads but it was the road that built the
wealth of the nations, Baalu said that India had already
embarked on an ambitious programme for developing transport
infrastructure.
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