You would like to read
- EV financing industry to be worth Rs 3.7 lakh crore by 2030: Report
- PPHF, Niti Aayog Co-host Global Rare Disease Conference on International Rare Disease Day
- "NITI Aayog Selects QSS Global led by lesser known entrepreneur, military spouse, for Prestigious UN Investor Consortium"
- Mastercard launches Priceless India to showcase rich heritage to domestic, global travellers
- Cashfree ranked number 5 fastest growing technology company in Deloitte Technology Fast 50 India 2020
New Delhi [India], June 9 (ANI/PR Newswire): NITI Aayog, RMI and RMI India's new report, titled 'Fast Tracking Freight in India: A Roadmap for Clean and Cost-Effective Goods Transport', presents key opportunities for India to reduce its logistics costs.
Due to the rising demand for goods and services, freight transport demand is expected to grow rapidly in the future. While freight transport is essential to economic development, it is plagued by high logistics costs and contributes to rising CO2 (carbon dioxide) emissions, and air pollution in cities.
According to the report, India has the potential to:
* Reduce its logistics cost by 4 percent of the Gross Domestic Product (GDP)
* Achieve 10 gigatonnes of cumulative CO2 emissions savings between 2020 and 2050
* Reduce Nitrogen Oxide (NOx) and Particulate Matter (PM) emissions by 35 percent and 28 percent, respectively until 2050
"Freight transportation is a critical backbone of India's growing economy, and now more than ever, it's important to make this transport system more cost-effective, efficient, and cleaner. Efficient freight transport will also play an essential role in realising the benefits of existing government initiatives such as Make in India, Aatmanirbhar Bharat, and Digital India," said Sudhendu J. Sinha, Adviser, Transport and Electric Mobility, NITI Aayog.
As India's freight activity grows five-fold by 2050 and about 400 million citizens move to cities, a whole system transformation can help uplift the freight sector.
"This transformation will be defined by tapping into opportunities such as efficient rail-based transport, the optimisation of logistics and supply chains, and shifts to electric and other clean-fuel vehicles. These solutions can help India save Rs311 lakh crore cumulatively over the next three decades," said Clay Stranger, Managing Director, RMI.
The report outlines solutions for the freight sector related to policy, technology, market, business models and infrastructure development. The recommendations include increasing rail network's capacity, promoting intermodal transport, improving warehousing and trucking practices, policy measures and pilot projects for clean technology adoption, and stricter fuel economy standards.
When successfully deployed at scale, the proposed solutions can help India establish itself as a leader in logistics innovation and efficiency in the Asia-Pacific region and beyond.
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
DISCLAIMER
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
