Changes in cost of fuel and road can bring the logistics cost to 9%: Nitin Gadkari

Jaipur (Rajasthan) [India], December 11 (ANI): Union Minister for Road Transport and Highways, Nitin Gadkari on Tuesday said that changes in the cost of fuel and road can bring the logistics cost to nine per cent.

Speaking at three day Rising Rajasthan Global Investment Summit 2024 in Jaipur, the Union Minister stated that savings made by reducing the fuel and road cost will significantly help the state to strengthen its export capabilities.

“If there is a change in your fuel and road prices, we have decided to reduce India’s logistics by 9 per cent within 2 years. If this 9 per cent can be achieved in your place (Rajasthan) then the gap of 7 per cent between 16 per cent to 9 per cent will make Rajasthan competitive in export,” the Union Minister stated in Hindi.

Highlighting the need to work on four pillars in order to achieve the target Atmanirbhar Bharat and 3rd largest economy, Gadkari stated that the country needs to work on water, power, transport and communication.

“For any nation to develop, four key requirements are essential. Water, power, transport, and communication – if these four infrastructures are developed, capital investment will flow in, leading to growth in industry, trade, and business. This growth will increase employment potential and raise per capita income. As employment opportunities and income rise, poverty will be alleviated. If we aim to make India a Vishwaguru (world leader), it is imperative to make our states economically capable and powerful. This is a necessity for our country’s progress, ” Gadkari said in his address.

The Union minister also reflected on the benefits of incentivising ethanol production, adding that it has the potential to boost the farmer’s economy.

“Replace petrol in your state and encourage all major companies to switch to ethanol. This will enable farmers in Rajasthan to produce ethanol from maize, sorghum, millet, or even spoiled grains. When cars, scooters, and auto-rickshaws run on ethanol, it will naturally lead to the prosperity and well-being of farmers in the region,” he said.

Today was the second day of the Rising Rajasthan Global Investment Summit 2024. The summit has attracted global investors, industry leaders, policymakers, and government officials.

The summit features an array of thematic and sectoral sessions organised by various state government departments.