By TIOL News Service

NEW DELHI, MAR 03, 2021: COMMERCE and Industry Minister Mr Piyush Goyal on Wednesday said the government is dedicated to boost integration of road, rail and waterways infrastructure to bring down the logistics cost and increase supply chain efficiency.

Addressing the Maritime Indian Summit 2021, the minister said, "Our government's three mantras for the infrastructure sector are 'upgrade, create and dedicate."

Adding that India cannot remain globally competitive and achieve 'one nation, one market' if costs remain high, he said investments in Sagarmala projects, will boost the country's maritime infrastructure, expand freight corridors, modernise ports, and reduce the turnaround time of ships. Logistics, which makes an estimated 13-14 per cent of the current freight costs, will also be able to reach the acceptable international benchmark of 8 per cent.

Mr Goyal appealed to stakeholders to transform from being 'service provider' to 'knowledge provider' by re-inventing the sector with technology-driven solutions like robotics, automation, artificial intelligence and big data analytics. "Our sector will be SAFE: sustainable, agile, futuristic, and efficient," he said.

The minister said the government will facilitate ease of doing business for the industries along the coastal region. "Let us work together with a triple engine: Engine of Central government, State government and our robust maritime sector," said Mr Goyal, promising the government's cooperation.

"Let the engine of growth and development in India prosper and flourish," he added.