Govt. readies multi-modal transport play to reduce logistics costs

The strategy involves a reset of India’s logistics sector from a “point-to-point” model to a “hub-and-spoke” model and involves railways, highways, inland waterways and airports to put in place an effective transportation grid.

This includes setting up 35 multi-modal logistics parks at an investment of Rs50,000 crore, development of 50 economic corridors and an investment template which involves roping in the states and the private sector for setting up special vehicles for implementation.

To implement this, the government plans to host a multi-modal summit—India Integrated Transport and Logistics Summit—in May, on the lines of the maritime summit to pitch project opportunities to the investors.

“It is for the first time that we have taken an integrated approach for the country’s transportation. This will increase India’s exports, provide employment opportunities, will be cost effective, and will make goods cheaper in the country,”

Source – www.livemint.com