The Federation of Indian Export Organisations (FIEO) launched the “2nd LOGIX INDIA 2019”- International Buyer Seller Meet on December 12, 2019 at New Delhi with the active support from Ministry of Commerce & Industry, Govt of India.
2nd LOGIX INDIA was inaugurated by Hon’ble Minister of State for Commerce & Industry, Govt of India, Mr Som Parkash in the presence of Senior Govt officials, Diplomats, Leaders of the trade, industry & logistics, FIEO office bearers and various other stakeholders.
Inaugurating the 3-day mega event, Mr Som Parkash said that Logistics is the backbone of any trade and industry. Currently the logistics cost in India is 30-40 percent higher than the global benchmarked logistics cost. And therefore it is a big challenge for the Government, however the Government aims at reducing it to 10 percent of the GDP. The Government is also planning to invest around 100 lakhs crore in logistics infrastructure in the next 5 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.
More than 120 International delegates from 26 Countries are attending 2nd Edition of LOGIX INDIA 2019 to develop superior logistics linkages with Indian counterpart.
Dr Ajay Sahai, Director General & CEO, FIEO in his inaugural address said, “India is making significant progress in improvement of Quality of Transport and Logistics Infrastructure, Efficiency of Regulatory Processes, Safety/Security of Cargo Movement, Ease of Arranging Logistics at Competitive Prices, Ease of Track and Trace, Timeliness of Cargo Delivery, Quality of Services Offered by Logistics Service Providers, Favourability of Operating Environment and Acceptability of best global practices in entire logistics chain.
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,” added Dr Sahai.
The event organized under the aegis of the Department of Commerce, Ministry of Commerce & Industry, Government of India 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.
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