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Government Working On Multi-modal Logistics Solutions To Bring Down Cost Of Transportation

Capital Market 

Piyush Goyal, Union Minister for Railways, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Govt of India today said that the government is working to ensure that the entire rail network will be fully electrified by December 2023 and the entire rail network will run on renewable energy by 2030. Addressing the virtual session 'Investment Opportunities in Andhra Pradesh', during the Maritime India Summit 2021, organized by the Ministry of Ports, Shipping and Waterways, jointly with FICCI, Goyal said that India has had a glorious maritime history and are on the path to build an even greater maritime future.

In the last 6 years, the capacity of India's major ports has almost doubled. Goyal further said that we need to reduce our logistics cost so that the international and domestic freight costs will reduce from 13-14% cost of goods to a more acceptable international benchmark of 8%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, March 03 2021. 18:33 IST
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