India’s Logistic Revolution: Embracing Digitalization and Sustainability for a $5 Trillion Economy
India’s quest to become a $5 trillion economy by 2027-28 and achieve a digitally advanced and eco-friendly Logistic infrastructure by 2047 took center stage at the Logistic Shakti Summit & Awards 2024. The event brought together industry experts, thought leaders and dignitaries to deliberate on the significance of sustainability, collaboration, and policy initiatives in driving the growth of the Logistic sector and achieving the Viksit Bharat 2047 Mission.
The summit emphasized the importance of efficient supply chains in business success, with Lt. Gen. Dharam Vir Kalra, PVSM, AVSM (Retired), Former Director of General Ordnance Services, Indian Army, highlighting the need for strategic investment in infrastructure to avoid the pitfalls of poor Logistic. He stressed that history has shown that poor logistics can be a major downfall, and therefore, it is crucial to prioritize investment in this area.
Prof. (Dr.) Manoj Choudhary, Vice Chancellor, Gati Shakti Vishwavidyalaya, discussed the key initiatives driving economic growth, including the expansion of freight corridors, national highway development, and the rapid adoption of digitalization. He noted that 90% of India’s trade relies on maritime routes, making the strengthening of the Logistic network a priority. The Vande Bharat initiative, freight corridor expansion, and national highway development are some of the key projects that are driving economic growth and development in the country.
Myanmar Ambassador Moe Kyaw Aung highlighted his country’s strategic location and river network development, positioning it as a key Logistics hub. He emphasized the importance of regional growth and collaboration, citing initiatives such as the Mizoram-Myanmar connectivity project, which showcases the shared commitment to regional growth and collaboration.
Brigadier Atul Kumar, former nodal officer for the Indian Army’s engagement with PM Gati Shakti, reiterated Prime Minister Narendra Modi’s vision of Sabka Sath, Sabka Vikas, Sabka Vishwas, and Sabka Prayas to make India viksit. He has taken up the assignment of Director, Uttar Pradesh Rajya Sainik Board.
The summit also underscored the importance of emerging technologies like RFID, Blockchain, and Data Analytics in aligning business and supply chain strategies. With the Logistics sector playing a critical role in India’s economic growth, it is essential to leverage these technologies to overcome the challenges of inefficient logistics and achieve the country’s ambitious economic goals.
The Logistic Shakti Summit & Awards 2024 emphasized the need for a digitally advanced and eco-friendly Logistic infrastructure and the importance of sustainability, collaboration, and policy initiatives in driving growth and development in the sector. As India strives to become a $5 trillion economy, the Logistic sector will play a critical role in achieving this goal, and events like the Logistic Shakti Summit & Awards 2024 will continue to play a vital role in shaping the industry’s future.
Source By:- https://www.thehindubusinessline.com/
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