India’s logistics cost accounts for 14 percent of the GDP which is much higher than the international benchmark of 8-9 percent. Addressing this issue at the LOGIX India program in UAE, Dr. A Sakthivel, President, Federation of Indian Export Organisations (FIEO) says that lowering this cost can help the manufacturing and export sector of the nation.
He said that the government is focusing on addressing the cost through various measures which have already started yielding results. The government of India is implementing the dual Bharatmala (road network) and Sagarmala (waterways network) to improve the logistic backbone, he added.
Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, UAE inaugurated the event and said, “India-UAE Comprehensive Economic Cooperation and Partnership Agreement (CEPA) shall result in accelerated trade and investment and shall open a new world of opportunities,”
Further, he highlighted that India is UAE’s largest Non-Oil Trade partner and he sees a bright future for the India-UAE collaborations in Global supply chain logistics.
“UAE has made significant progress in technology up-gradation in customs and logistics sector and looks forward to supporting India in its mission for logistics sector transformation,”Ahmed Mahboob, Director General of Dubai Customs and the CEO of Ports, Customs and Free Zone Corporation
“The Indian economy is on the upswing. Indian logistics companies should form good partnerships with UAE companies and take advantage of technical expertise available in the region.”Sandeep Kumar Bayyapu, Deputy Chief of Mission, Indian Embassy, UAE while complementing FIEO on organizing LOGIX India in UAE,
About 100 Indian companies are in UAE at the 3rd Edition of LOGIX India to meet their prospective trade partners and FIEO is playing a key role to facilitate trade and investments in the sector, highlighted Dr. Ajay Sahai, Director General & CEO, FIEO