New 56 airports to be functional in next few years: Aviation min
Efficient logistics is critical for countries like India to harness trade and facilitate greater & faster integration with both the domestic as well as world economy. Keeping the importance of efficient logistics to harness trade and facilitate in mind 56 new airports will become functional in the next few years, Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu said .
The Minister further said that by bringing all the stakeholders together it will create the right platform to improve logistics and connectivity which are vital for increasing intra-state and international trade flows.
Indian logistics industry is estimated at around US $ 215 billion in 2019-20, growing at over 10 per cent annually. In the last decade or so, significant improvements in Railways, Roads, Highways, Inland Waterways, Aviation, Ports and Coastal Shipping have taken place. India has improved its ranking in the Logistics Performance Index (prepared by the World Bank) from 54 in 2014 to 35 in 2016. To keep up with the growth in demand for logistics services, it is important to develop a consistent approach to logistics across infrastructure, services and different modes of transportation.