Govt in talks to give infrastructure status to logistic sector: Nitin Gadkari
The move will help logistics companies to easily avail of loans from the banks to boost their infrastructure, says Nitin Gadkari
New Delhi: Logistics may be the next sector to get infrastructure status in India, close on the heels of affordable housing.
“I have spoken to commerce minister Nirmala Sitharaman to provide infra status to the logistics sector,” Union roads minister Nitin Gadkari said on Wednesday. “The move will help logistics companies to easily avail of loans from the banks to boost their infrastructure. The final call will be taken by finance minister Arun Jaitley on the issue.”
Speaking at a curtain raiser event for the India Integrated Transport and Logistics Summit on 3-5 May, the minister said the move is important for the development of multi-modal hubs in the country. The summit would be a platform for various stakeholders from the government and infrastructure developers in the private sector and global experts to come together and discuss issues problems and solutions to them. Over 1,500 delegates including 50 global CEOs are expected to attend the event.
Raaja Kanwar, vice-chairman and managing director of logistics company Apollo International Ltd, welcomed the move as a “very positive” development. “It will bring a much needed focus towards the sector which is currently divided among several ministries. This move will help in effective implementation of logistics infrastructure in India and better synergy in terms of infrastructural development with the sector. The sector which has been fragmented till now will get a much needed fillip from financial institutions as it will be easier to secure funding for logistics projects.