Government is working on boosting infrastructure, particularly ports, roads and waterways, to significantly reduce logistics cost that is "very high" in the country, Union Minister Nitin Gadkari said today. "It was 2 km per day, last year, it was 18 km per day and by the end of this March, it will be 30 km per day. About ports and shipping, Gadkari said contracts worth Rs 1 lakh crore have been finalised to give a push to the sector. "Most important for our development is port led development... we have Sagarmala as a big investment project. Essar Ports CEO and MD Rajiv Agarwal agreed, saying infrastructure development is key to growth and the sector needs "cheap finances to develop that".

Source: dna January 28, 2017 10:45 UTC