Logistics summit generates business proposals worth Rs2,00,000 cr

The 3-day India Integrated Transport and Logistics Summit that concluded in New Delhi on Friday saw the signing of 34 memoranda of understanding (MoUs) worth a total Rs2,00,000 crore.

MoUs were signed for development of port connectivity and integrated check posts (ICP) in Bihar, Uttarakhand, Uttar Pradesh, West Bengal, Manipur while MoUs were signed for providing access to land port in Tripura, Assam and Mizoram.

Logistics parks are proposed to be developed in Telengana, Andhra Pradesh, Karnataka, Madhya Pradesh, Assam, Gujarat, Mizoram, including the development and expansion of multi modal logistics parks in Mumbai and Bengaluru and Haryana.

Besides, the summit explored investment opportunities in logistics sector, dredging of inland waterways, implementation of 79 port connectivity projects under Sagarmala, development of port roads to Chennai and Vishakhapatnam ports, and connectivity to airport in Navi Mumbai, among others.

Some of these MoUs are between government agencies while others are between government and business and among businesses.

About 3,000 delegates from within and outside the country, including central and state government organisations , international organisations like the World Bank and ADB, delegates, global transport and supply chain experts and representatives of private companies, attended the three-day summit.

The summit focused on six major themes that included multi modal logistics parks, new developments in urban transportation, freight corridors for economic development, supply chain transformation- storage innovations, GST and role of digitization for decongestion and standards and skills for logistics.

Fifty speakers from across the globe shared their views, expertise and experience about developing the logistics and integrated multi modal transport sector in India.

Speaking at the concluding session of the summit, minister of road transport and highways and shipping Nitin Gadkari said that there is an urgent need to bring down logistics cost in the country to globally comparable rates if we are to achieve double digit economic growth and ensure welfare of the weakest sections of society.