Port Wings News Network:
Federation of Indian Export Organisations (FIEO), on 27 November 2018 announced a major initiative to improve Logistics Cost effectiveness and operational efficiencies for India’s Global Trade. Shri Suresh Prabhu, Minister of Commerce & Industry and Civil Aviation, Govt. of India launched the event logo and brochure of Logix India 2019 and welcomed the initiative taken by FIEO.
“India is now one of the fastest growing economies of the world, and is seeking superior logistics linkages with nations all over the world, we are pleased to announce Logix India 2019, scheduled in New Delhi from 31 January to 02 February 2019. Logix India will enable effective international trade logistics and help provide efficient and cost-effective flow of goods on which other commercial sectors depend upon.” said Shri Prabhu.
Speaking to the press, Shri N. Sivasailam, Special Secretary (Logistics), Department of Commerce, said, “logistics is regarded as the backbone of our export sector, and the industry is facing challenges such as high cost of logistics impacting competitiveness in global market, underdeveloped material handling infrastructure, fragmented warehousing and lack of seamless movement of goods across modes, among others.”
Shri Ganesh Kumar Gupta, President FIEO said, “Over 20 countries are sending their delegations to explore logistics partnerships with India. FIEO is focussing on logistical solutions for Difficult To Reach markets and over 100 International delegates are expected to attend Logix India 2019.”
“Further development of global logistics would give a boost to external demand thereby encouraging manufacturing and ‘job creation’. This will in turn be instrumental in improving country’s GDP”, added Shri Gupta.
Dr. Ajay Sahai, Director General & CEO, FIEO, said, “India ranked 44 in the World Bank Logistics Performance Index 2018. As per the Economic Survey 2017-18, India’s logistics industry which is worth around USD 160 billion is likely to touch USD 215 billion in the next two years. The sector provides employment to more than 22 million people has grown at a compound annual growth rate (CAGR) of 7.8 per cent during the last five years and will grow at a CAGR of 10.5 per cent over the next 5 years.”
FIEO will also focus on Investment opportunities in Infrastructure development, Warehouse consolidation, Technology integration and IT Enablement, Skilling of Manpower etc. at the three day meet.