$350 million ADB loan will strengthen India’s logistics, enhance manufacturing, and promote supply chain resilience.
The Government of India and the Asian Development Bank (ADB) have formalised a $350 million policy-based loan under the second phase of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program. This initiative aims to advance India’s manufacturing sector while fortifying supply chain resilience.
Representatives from the Department of Economic Affairs (DEA), Ministry of Finance, and Department for Promotion of Industry and Internal Trade (DPIIT) signed the agreement alongside ADB officials.
The SMILE program adopts a comprehensive approach, focusing on multimodal logistics infrastructure, standardised warehousing, and smart systems to enhance efficiency and reduce emissions. These reforms aim to improve external trade logistics, attract private investment, and streamline operations across national, state, and city levels.
This collaboration underscores India and ADB’s commitment to economic growth, creating jobs, fostering gender inclusion, and driving sustainable development in the logistics sector.
