Government's Infrastructure Initiative to Enhance India's Logistics Competitiveness Against China and the US: Gadkari
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Synopsis
On March 20, Union Minister Nitin Gadkari announced the Indian government's plan to reduce logistics costs to below 10% of GDP through infrastructure development, positioning India to compete more effectively with China and the USA.
Key Takeaways
- Government aims to reduce logistics costs to below 10% of GDP.
- Expo features over 1,000 exhibitors and 50,000 visitors.
- Focus on AI, 5G, and Smart City solutions at the event.
- Startup Hub showcases innovations from over 250 startups.
- Conference sessions to discuss digital trends in India.
New Delhi, March 20 (NationPress) - With the swift advancement of infrastructure, the government is focused on reducing logistics costs by over 5 percentage points to below 10 percent of GDP, making India more competitive compared to China and the USA, stated Union Minister for Road Transport and Highways Nitin Gadkari on Thursday.
During the inauguration of the Convergence India & 10th Smart Cities India Expo at Bharat Mandapam, Gadkari remarked: "India's economy is experiencing rapid growth, with infrastructure development being pivotal. Our objective is to decrease logistics costs from 14-16 percent of GDP to single digits, thus enhancing our competitiveness against China and the US."
Held under the theme "Imagining an AI-Driven Future Today: Innovating for a Better Tomorrow", this expo is organized by the Exhibitions India Group (EIG) and the India Trade Promotion Organisation (ITPO).
Over the next three days, a remarkable turnout of more than 50,000 attendees is expected at the venue, where they can explore and engage with technologies, gadgets, and innovations showcased by 1,000 exhibitors from 28 countries. A significant representation of 200 startups highlights their expanding capabilities in contemporary technologies.
At this year's event, in addition to solutions in 5G & 6G, AI, Big Data, IoT, Cybersecurity, AR/VR, Embedded Tech, EMS, Fintech, Urban Mobility, and Smart City Solutions, attendees will also discover offerings in Digital Gaming, Mobile Devices & Accessories, OTT, Security & Surveillance, E-commerce, Mobile Apps, Drone Tech, and more. The launch of the inaugural AI Bharat Expo, which focuses on the convergence of artificial intelligence and its applications in the industrial and retail sectors, stands out as a key highlight of this technology event.
Another major attraction is the Startup Hub, featuring over 250 startups showcasing innovations in emerging technologies, ICT, and Smart City solutions. This hub will provide mentoring opportunities facilitated by industry pioneers, curated conference sessions, a Startup Pitch competition, and networking events for investors and startups. The esteemed Smart City & Fintech Innovation Awards will elevate this ecosystem to new heights.
The expo will also conduct approximately 40 conference sessions over the three days, fostering discussions among government and industry representatives, innovators, think tanks, and academia on recent developments and market trends influencing India's digital transformation and urban environment.
During a session, Sanket Bhondve, Joint Secretary, Ministry of Electronics & IT, noted: "India possesses one of the world’s largest energy data sets, monitoring 300,000 circuit km of transmission lines and 400,000 MW of generation capacity, providing unparalleled insights to improve grid efficiency and promote data-driven decision-making."
