New Delhi: Government is planning to launch a National Logistics Policy to reduce trade costs, Minister of Commerce and Industry and Railways Piyush Goyal said on Tuesday.
All transport sectors of railways, civil aviation, roads and shipping would work towards bringing logistics costs below 10%, he added.
Speaking at the 9th Asia-Pacific Trade Facilitation Forum 2019 in New Delhi, organised by Department of Policy for Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, and Confederation of Indian Industry (CII), he said that the National Committee on Trade Facilitation is working proactively to ensure the improvement in trading environment with reduced turnaround time and transaction costs.
With the government introducing a plethora of reforms including digitization of trade procedures and fulfilment of the Sustainable Development Goals, India is on the pathway of achieving the goal of USD 5 trillion economy, Goyal added.
He highlighted the importance of adopting a collaborative and integrated approach at the Asia-Pacific level in combating the common challenges of rapid urbanisation, climate change, poverty, and inequality, among others. He also reinforced the government’s strong commitment to the ‘Act East Policy’ for integration of the Indo-Pacific Region.