India’s Supply Chain & Logistics Transformation

Industry leaders and experts gathered at the Supply Chain Management and Logistics Summit 2023 yesterday, shedding light on India’s remarkable journey towards transforming its trade landscape and emerging as a global leader. With a focus on strategic initiatives and advancements in supply chain management, logistics, and maritime infrastructure, the event, organised by ET Edge, provided an insightful platform for dialogue and collaboration.

The summit featured a distinguished line-up of speakers who delved into critical topics shaping India’s trade ecosystem. The discussions highlighted the importance of world-class port infrastructure and ‘Smart Ports’ implementation to improve business efficiency.

In his keynote, Shri Nitin Gadkari, Minister of Road Transport &Highways, Government of India, said, “For India to achieve the PM’s dream of a USD 5 Trillion economy, our exports have to increase and imports reduced. Supply Chain Management & Logistics has a huge role to play in this transformation. We aim to reduce the logistics cost to 9 percent from the current 14 -16  percent by the end of 2024. Good roads, alternative fuels, and increased usage of waterways are important factors that shall make this possible. I urge the industry to use the waterways developed in Ganges & Brahmaputra rivers and utilise the route to reach North Eastern states, as all protocols and agreements with our neighbors have been signed. There are 40 river ports and 4 multimodal ports on the Ganges route alone. The world wants to buy from us, and we make our exports competitive by leveraging efficient logistics management.”

Shri Sanjeev Ranjan, Chairman of the National Shipping Board, shared valuable insights on the Sagarmala Project, an ambitious endeavor to rejuvenate sea ports for economic development. The summit witnessed engaging discussions on various crucial subjects, including self-reliance in shipbuilding, repair, and recycling, reformation of shipping policies and institutional frameworks, establishing India as a world-class maritime research, education, and training hub, and promoting waterways as sustainable transportation routes.  

During the event, the Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, shared his optimism about India’s global supply chain management future. He highlighted the substantial progress made by Indian ports, surpassing the average container dwell time of the United States and Germany. He further emphasised the need to raise awareness among the youth about climate change and its impact on the environment. 

The summit also addressed the significance of institutional, regulatory, and legislative reforms in streamlining trade processes and creating a favorable business environment. The speakers emphasised the imperative of fostering a safe, sustainable, and green maritime sector through innovative practices and technologies.

“Supply Chain Management & Logistics is at the heart of the global economy and critical to the sustenance of humanity. We are happy to organise this highly engaging and educative annual conference designed to deliver practical information about supply chain agility, policies, supply risk management, automation of repetitive tasks, technology development, and more.”, says Deepak Lamba, CEO of Worldwide Media (WWM), President of Times Strategic Solutions.

Recognising the importance of research, education, and training, the summit emphasised the development of world-class maritime facilities to nurture talent and expertise. The speakers highlighted the role of such initiatives in driving innovation and shaping the maritime industry’s future. It explored the potential of waterways as efficient transportation corridors, focusing on emissions reduction and significant improvements in turn around time. The discussions emphasised the need for a multimodal shift towards waterways, including the Ganges and Brahmaputra rivers and other navigable water routes. Such shifts reduce transportation times and lower carbon footprints compared to the traditional road-based transportation systems.

The summit has reinforced India’s commitment to transforming its trade landscape and achieving global leadership by focusing on world-class infrastructure, institutional reforms, and sustainable practices.

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