New Delhi
India aims to reduce logistics costs to below 10% of GDP, making it more competitive with China and the US, said Union Minister for Road Transport and Highways Nitin Gadkari on Thursday. He was speaking at the Convergence India & 10th Smart Cities India Expo at Bharat Mandapam.
Gadkari highlighted that infrastructure development is crucial for India’s rapid economic growth. Currently, logistics costs range from 14-16% of GDP. Lowering them will enhance efficiency and competitiveness in global trade.
The three-day expo, themed "Imagining an AI-Driven Future Today," features 1,000 exhibitors from 28 countries and over 50,000 visitors. More than 200 startups are showcasing innovations in AI, 5G & 6G, IoT, cybersecurity, fintech, urban mobility, and smart city solutions. The event also marks the launch of AI Bharat Expo, focusing on AI’s role in industry and retail.
A major attraction is the Startup Hub, where over 250 startups are displaying advancements in ICT and smart city solutions. The hub includes mentoring sessions, startup pitches, and investor meetings, along with the Smart City & Fintech Innovation Awards.
The expo features 40 conference sessions with government officials, industry leaders, and researchers discussing India's digital transformation. Joint Secretary of the Ministry of Electronics & IT, Sanket Bhondve, highlighted India's extensive energy data network, covering 3 lakh circuit km of transmission lines and 4 lakh MW capacity, helping optimize grid efficiency.
This infrastructure push, combined with cutting-edge technology, is set to improve India's logistics sector and drive economic growth.
