Logistics costs in India will come down from 16% to 9% in 2-3 years : Gadkari

MUMBAI : Union Minister of Road Transport and Highways Shri Nitin Gadkari said the government plans to cut India’s logistics costs to single-digit levels in the next 2-3 years, aiming to boost India’s economic competitiveness.

Speaking in Mumbai in CNBC-TV18’s India Business Leader Awards on Saturday, he also stressed the importance of exploring hydrogen as a crucial fuel for the future and emphasised the role of biomass and bio digester technologies in producing hydrogen and CNG. Gadkari remarked that India is set to take the lead in alternative and biofuels on a global scale within the next 10 years.

He also noted that the total toll revenue is currently Rs 52,000 crore, with projections suggesting it will reach Rs 1.4 lakh crore in two years.

“We are building green express highways, and there is no issue regarding funding because every project we undertake is economically viable,” he added.

The minister said that with a budget of Rs 2.8 lakh crore, he has strong backing from the Finance Ministry, and that infrastructure development, particularly in sectors like water, power, transport, and communication, has been a priority for the Prime Minister.

To address challenges like those encountered in the Morbi-Bangla Link project, he underscored the need for innovative strategies and collaborative efforts to ensure timely project completion.