Invest in logistics to make India’s products competitive : Andhra CM

NEWDELHI:Callingforahealthy flow of investments into the logistics sectorinIndia,AndhraPradeshChief Minister Shri Y S Jagan Mohan Reddy, who was at the 8th NITI Aayog Governing Council session in Delhi, said that high logistics costs are hampering India’s growth and curtailing the competitiveness of its productsglobally.

Underlining the share of logistics in India’s GDP, which stands at a high 14percentcomparedto7.5percentin theUnitedStates,Reddyemphasised the crucial nature of the sector and thecostsinvolved.

Hesoughtcontinuinginvestments as seen in the past nine years to ensure rapid economic progress of thecountry.

The Chief Minister submitted a note to the Governing Council showcasing the steps taken by Andhra Pradesh to strengthen sectors such as logistics, public health, skill development and social and economic empowerment of women, said a press note shared by theStateGovernment.

“Laying emphasis on port-based development, we are establishing four greenfield ports and 10 fishing harbours, besides developing the Orvakal Airport in Kurnool and striving to develop an international airport in Visakhapatnam through PPPmode,”hetoldthesession.

According to the CM, the State stood on top in ease of doing business for the past three years, including repealing several obsolete legal provisions to reduce compliance burden, which led to investment pledges of Rs 13 lakh crore during the GlobalInvestorsSummitinVizag.