Investment in logistics to touch $500 billion, says Suresh Prabhu

Post-GST, the logistics sector in the country is slated to touch new heights as the process of scaling up and process streamlining gets new push. The government too is expecting big-scale growth in the business and according to Union Minister of Commerce and Industry Suresh Prabhu, investment in logistics including related infrastructure will touch a staggering $500 billion by 2025. Speaking on the occasion of unveiling of the new logo of the Logistics Wing of his ministry, Prabhu also said that improvement and increasing investment in logistics will create millions of jobs and also do away with the hurdles hampering India’s internal and global trade.

Emphasising on government’s focus, the Minister said that Logistics Wing has been created in the Department of Commerce for the integrated development of this sector. Due to these efforts, infrastructure status has been granted to warehousing, cold chains and multimodal logistics parks. The Ministry is working on a National Logistics Policy and also bringing out a policy on the development of Multi-modal Logistics Parks to be announced soon.

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