CII Presents Conference On Logistic Infrastructure - Key Enabler For Sustainable Development.
India spends approximately 11%-12% of its GDP as logistics cost against the international average of 7%. While this can be seen as a hurdle in industrial growth, it also represents a massive opportunity that needs to tapped at the earliest. It is estimated that the Indian logistics market is likely to witness consistent annual growth of around 8-9% during the next decade and reach the revenue level of about $200 billion by 2020. This growth, fuelled by the central government’s renewed thrust on infrastructure development, which is proven by the phenomenal budget increase from about $10 billion in 2003 to $30 billion in 2010, is poised to attract significant investment in the logistics sector.
With more than 8% contribution to India’s GDP in the financial year 2009-2010, Uttar Pradesh is the second largest state economy in the country. At about 30% share, agriculture continues to remain a significant contributor to Uttar Pradesh’s GDP. The issues being currently faced by industries in Uttar Pradesh include infrastructure related factors like, quality of road and rail connectivity and available haulage capacity, as well as operational issues such as high transportation lead time, pilferage and high costs. The combination, of existing issues and the growing economy of Uttar Pradesh, necessitates substantial improvement and capacity augmentation of logistics infrastructure in the region.
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