India's logistics cost to come down to 9% of GDP by April next year: Nitin Gadkar
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Union Minister Nitin Gadkari has said that India's logistics cost will come down from 16 per cent to 9 per cent of Gross domestic product (GDP) by April next year. He said that the country's exports will also increase when the logistics cost comes down to single digit.
The minister noted that Indian economy needs to create more jobs. While noting that earlier governments did not give enough attention to rural sector, he said that the Prime Minister Narendra Modi-led government is giving more priority to the agriculture sector.
He further said ‘we need to increase our agriculture growth...We need to increase per capita income in rural areas’. He noted that India is the fastest growing major economy, and the government is working hard to make it the third largest economy in the world. Currently, India is the fifth largest economy globally.
