Union Minister of Road Transport and Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari has said that reduction in logistics cost can substantially increase the country’s exports. He said the government is concentrating on road improvement, reducing traffic density and introduction of alternative sources of fuels for the transport sector. All highways with over ten thousand PCU road density are being upgraded to four lanes, those with over twenty thousand PCU traffic units to six lanes and those with over thirty thousand PCU to eight lanes.
Launching the joint study report on Insurance Requirements of the Indian Logistics and Warehousing Industry and their Customers in New Delhi today, the Minister informed that his Ministry has understood the need for bioethanol to fully cater to the gasoline blending demands of the nation. There is a potential for producing around 30 billion liters of ethanol annually from surplus agro-residues in the country. He also highlighted the importance of logistics and collection models suited for the country.
The research study has been conducted by Transport Corporation of India and the Insurance Institute of India. It aims at providing an academic base for the Logistics and Warehousing Industry to educate their customers on utilizing the full potential of insurance mechanism. It is understood that the report will help the logistics industry to protect their business interests in a better way.