Scale, efficiency, tech building blocks should be utilised to cut logistics costs: Piyush Goyal

New Delhi [India], April 4 : Union Commerce Minister Piyush Goyal on Tuesday said scale, efficiency, and building blocks through technology "must be utilised to bring down the cost in logistics".

Speaking during the ICRIER's release of a report on 'Express Delivery Services' in New Delhi, the minister said that the government was taking steps in this direction through massive infrastructure development through PM GatiShakti for smarter and faster planning and implementation of projects, unified logistics interface platform and dedicated freight corridors.

He highlighted that when Prime Minister Narendra Modi said that India can be the trusted partner to the world at the G20 Summit, the message went out that India was ready to do business with its transparent and rule-based ecosystem and highly talented and committed human resource. The Minister said that trust, transparency and talent will help us in our trade.

Piyush Goyal said that logistics has become the centerpiece of India's policy making in its journey towards becoming a developed nation and a leader in international trade. He also said that express delivery of services has transformed through innovative ideas under the leadership of Prime Minister Narendra Modi.

During his address, the minister praised the Indian Council for Research on International Economic Relations (ICRIER) for a report which aims to improve the overall logistics system by partnering with industry and the government.

He said that ICRIER acts as a bridge between the government and the industry. He added that it must work with industry experts on the roadmap for fruitful realisation and implementation of the recommendations of the report.

The Minister noted that the growth in overall exports over the last two years despite challenges like inventory pileup, high raw material costs, freight issues, and the Covid-19 pandemic's impact is commendable.

"The government is making a conscious effort to change the mindset of looking at things from the old perspective and living in hesitations of history," he said, adding, "It is the result of these efforts that the overall exports from India in 2022-23 are expected to be about USD 765 billion."

The Minister said that the government was focused on taking digital connectivity across the length and breadth of the country, with fourth generation mobile system (4G) and broadband internet reaching almost every corner of the country.

Piyush Goyal observed that seamless digital connectivity-enabled India to deliver services on time during the Covid period by facilitating work from home. He said that this express delivery of services through an expansive digital network created over the last eight years must be duplicated in the logistics sector for timely delivery of goods.

He said that Express Delivery Services is yet to come to terms with the huge potential India holds.