: Need to reduce cost of logistics to be Atma Nirbhar: NITI Aayog #FinanceIndia #StockMarketNEWS Need to reduce cost of logistics to be Atma Nirbhar: NITI Aayog New Delhi, Sep 10 (KNN) Dr V K Saraswat,

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Need to reduce cost of logistics to be Atma Nirbhar: NITI Aayog #FinanceIndia #StockMarketNEWS
Need to reduce cost of logistics to be Atma Nirbhar: NITI Aayog New Delhi, Sep 10 (KNN) Dr V K Saraswat, member, NITI Aayog on Thursday said that it is important to reduce the cost of logistics to make this sector Atma Nirbhar.

While addressing a session by PHD Chamber of Commerce and Industry on ‘How Logistics Will Contribute to Atma Nirbhar Bharat’, Saraswat said, We need to reduce the cost of the logistics sector.

Saraswat while giving a global perspective about the logistics sector mentioned that there will be tremendous growth in the logistics sector. In the Indian context, the logistic sector is estimated to grow at an optimistic rate. We are looking at automation of complete logistics and transportation processes through IoT and computer science.

While explaining the time frame in the shipment, he emphasized that there is a need to improve our on-time delivery to meet last-mile connectivity.

Talking about global trends, there is a need for environment-friendly logistics ensuring sustainability and eco-friendliness. We have a goal towards the sustainment logistics dimension that is driven by the economy, society, and environment.

India is an emerging market for domestic logistics, international logistics, and business fundamentals, said Dr Saraswat.

While discussing the impact of the pandemic on the logistics sector leading to a slowdown in the sector, he discussed the challenges faced by the logistics sector and the need to improve these challenges to reduce the cost of logistics and human intervention in times to come.

Technologically driven logistics by adopting new technologies can give a great solution and enhance logistic operations, he added.

Logistics services need to have increase agility, credential stability, transparency, and speed. The supply chain needs to become a more resilient better ability to adjust and recover from future difficulties. A new surge in warehousing and demand especially, for temperature control warehousing space will be much better.

We need to look at automation and robotics to make logistics more efficient and, greater efficient to the management of private warehouses said, Saraswat.

Pawan Kumar Agarwal, IAS, Special Secretary (Logistics), Ministry of Commerce and Industry, Government of India in his deliberation mentioned that Logistic Sector in one sector which limits government action, they are highly fragmented.

While addressing the challenges faced by the logistics sector, he discussed that looking for logistics from the lens of cost would be unfair. The government has made huge investments in infrastructure, with the support of the private sector. Warehousing and other facilities have largely been created by private companies.