2nd LOGIX INDIA, organised by the Federation of Indian Export Organisations (FIEO), was inaugurated by Minister of State for Commerce & Industry, Som Parkash in Delhi this evening. More than 120 International delegates from 26 countries are attending 2nd Edition of LOGIX INDIA 2019 to develop superior logistics linkages with their Indian counterparts.
Inaugurating the 3-day mega event, Som Parkash said that the government is aiming at reducing the logistics cost to 10 percent of the GDP and has drawn the plans to invest around 100 lakhs crore in logistics infrastructure in the next five years. “We are also in the process of coming out with a new National Logistics Policy and creating data bank by getting feedback from different stakeholders,” he said.
Dr Ajay Sahai, Director General & CEO, FIEO in his inaugural address said, ” India needs to almost double its annual spending on infrastructure at USD 200 billion and in order to achieve the target of USD 10 trillion economy by 2032, a robust and resilient logistics infrastructure system is required, supported by adequate private investments. The increasing maturity of logistics sector, as it embeds itself in India’s economic growth story, lends to the emergence of complex value chains across various sub-sectors, such as Transportation, Supply Chain Management, Warehousing & Distribution.”
The event organized under the aegis of the Department of Commerce, Ministry of Commerce & Industry is FIEO’s annual flagship event on logistics. The event also focusses on B2B meetings with logistics stakeholders from India and overseas, intensive conference schedule with eminent speakers and exposition on smart logistics solutions.