PM Gati Shakti National Masterplan to help achieve India’s aim of USD 5 Trillion economy, Shri Som Parkash, Hon’ble Minister of State, Ministry of Commerce & Industry, Govt. of India.

Addressing the Industry Stakeholders at the INDIA INTERNATIONAL LOGISTICS & SUPPLY CHAIN Conference, organised by PHDCCI & Logistics Insider , Shri Som Parkash, Hon’ble Minister of State, Ministry of Commerce & Industry, Govt. of India said that the PM Gati Shakti National Masterplan will help achieve India’s aim of USD 5 Trillion economy, at PHD House, here today.

The Hon’ble Minister of State, Shri Som Prakah, mentioned that India is one of the most attractive destination for investment in the world and government has prepared some important frameworks to help thrive businesses in the country. One of them is PM Gati Shakti masterplan and its implementation which will help us to achieve our aim in logistic efficiency.

An infrastructure master plan will make a difference through integrated approach by breaking the entrenched silos over six years which has received Rs 20,000 crore allocation in this year’s Budget. Propelled by seven engines – roads, railways, airports, ports, mass transport, waterways and logistics – Gati Shakti is an idea whose time has come, added the Minister.

The Minister appreciated PHDCCI for being the forerunner in having a specialized forum for Gati Shakti, the contribution for which will go long way in aligning the objectives with the PM’s Vision of being a globally leading economy.

To help make this plan success, the Minister, urged all industry stakeholders to work in this direction collectively to achieve its significant results.

Shri Amrit Lal Meena (IAS), Special Secretary – Logistics, Dept of Commerce & Industry, Govt of India, said that a lot work is being done in this direction, mainly on component cost of transportation & fuel and inventory cost to bring in logistic efficiency. Time and cost overrun are major factors of concern in the implementation of the plan. Steps are being taken to kept them at zero level. In PM GatiShakti master plan, 600 layers of all different ministries of state government are integrated on digital platform for better coordination and early resolutions. Gaps are identified and taken on priority basis regarding transportation to eliminate unnecessary congestion, said Shri Amrit Lal Meena.

Mr. Pradeep Multani, President, PHDCCI , mentioned that the Indian logistics sector is on a big growth tide. According to the domestic rating agency ICRA, Indian logistics sector is expected to grow at a rate 8-10 per cent over the medium term. This is an improvement over the compound annual growth rate (CAGR) of 7.8 per cent at which the industry grew during the last five years. The government’s focus going forward is to bring down the cost of logistics which is at 14.4 per cent of India’s GDP at present. The development of the logistics sector is also extremely important for the Indian economy, as it will boost exports, create jobs, and give the country a prominent position in the global supply chain, said, Mr. Multani.

Mr. Ashish Wig, Chair, Gati Shakti Development Forum, PHDCCI, highlighted Infrastructure is crucial to the development of any economy. Roads, railways, airways, and waterways enable connectivity with the outside world, facilitate trade and bring prosperity to the region. Advanced modes of transportation allow faster movement of goods and services. He talked about PM Gati Shakti National Master Plan which is integral to the Prime Minister’s ‘Aatmanirbhar Bharat’ (Self-reliant India) dream and is expected to propel 21st century India towards a $5-trillion economy by 2024-25.

Mr. Ravinder Sethi, Co-Chair, Logistics Committee, PHDCCI, said that the logistics sector has emerged as India’s top job-creating sector, as per the National Skill Development Corporation. India’s need for infrastructure creation in the logistics sector is striking. The Government’s keen focus on building connectivity through a better road network, dedicated freight corridors, tech-driven warehousing along with Multi-modal logistics parks is a praiseworthy step towards the Logistics Infrastructure Creations. It will also boost India’s trade competitiveness, create jobs, improve the country’s global rankings, and pave the path for the country to become a global logistics hub.

Mr. Sandeep Wadhwa, Chair, Logistics Committee, PHDCCI, said, while a significant amount of work is happening on the ground, technological transformation is also picking pace. Tech-based start-ups brought revolutionary changes in the last mile delivery. In the last 5 years, we have seen, many more entrants in this space and connecting all three delivery miles with their smart technology.Last mile connectivity is to be prioritized while developing various economic zones and industrial parks and clusters, to make Indian businesses more competitive, with a reduced logistic cost along with the vision of providing Jobs opportunities to aspiring youth of the country.

Mr. Saurabh Sanyal, Secretary General, PHDCCI, presented a formal vote of thanks and talked about the Multi-Modal Logistics Parks (MMLPs), which would act as the focal point to link various modes of transport, are at the heart of Gati Shakti.Complementary to these efforts, the government is also developing the Unified Logistics Interface Platform (ULIP) as the digital backbone of the sector. ULIP, in a secure and decentralised manner, would integrate data from various government bodies like GSTN, Vaahan, Customs, etc. This would not only reduce the compliance burden by doing away with tedious documentation, but also create a uniform regulatory framework for the sector.

Dr. Yogesh Srivastav, Assistant Secretary General, PHDCCI, moderated the session.

The Event was sponsored by Gear, Jeena & Co, Wiz, Skyways Group and PHDCCI’s Annual Sponsors – Multani Pharmaceuticals Ltd; Star Wire; PG Industry; Uflex Ltd; DLF Ltd; Continental Carriers Pvt Ltd; Belair Travel & Cargo Pvt Ltd; Radico Khaitan Ltd; Jindal Steel & Power; MMG Group; Paramount Communications; Superior Industries Limited; JK Tyre & Industries Ltd; SMC Investments and Advisors Ltd; Crystal Crop Protection Ltd; Sagar Group of Industries; Samsung India Electronics; Comtech Interio; R E Rogers; AYUSH Herbs Private Ltd; Apeejay Stya Group; DCM Shriram; EaseMyTrip; Blossom Kochhar Beauty Products Pvt Ltd; Oswal Greentech; Trident Group; MV Cotspin Ltd; Synergy Environics Ltd; Ajit Industries Pvt Ltd; P S BEDI & Co.; Indian Farmer &Fertilizers Corporation Ltd; Jindal Steel; Hindware Sanitary; Modern Automobiles; Livit Ltd; Central Coalfields Ltd ; Axa Parenterals; Bhagwati Plastic and Pipes Industries; J K Insurance Brokers Ltd; DD Pharmaceutical Ltd.