Invest in logistics to make India’s products competitive, says Andhra CM at Niti Aayog meeting

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, attending the NITI Aayog governing council meeting in Delhi on Saturday, called for a healthy investment flow into the logistics sector in India, saying high logistics costs are hampering India’s growth and hampering its competitiveness products worldwide.

Reddy underscored logistics’ share of India’s GDP, which stands at a high 14 percent compared to 7.5 percent in the United States, stressing the critical nature of the sector and the costs involved.

He strove for continuous investment, as in the past nine years, to ensure rapid economic progress in the country.

The prime minister presented a communication to the Governing Council outlining steps taken by Andhra Pradesh to empower sectors such as logistics, public health, skills development and women’s social and economic empowerment, according to a state government press release on Saturday.

“We are focusing on port-based development and are building four greenfield ports and ten fishing ports. In addition, we are developing Orvakal Airport in Kurnool and aiming to develop an international airport in Visakhapatnam in PPP mode,” he said at the meeting.

Reddy stressed the importance of creating a favorable business environment to attract investment and promote new technologies to achieve higher agricultural productivity and self-sufficiency, noting that the share of investment in manufacturing and service sectors will be increased should.

According to the CM, over the past three years the state has been at the forefront of simplifying how to do business, including repealing several outdated legislation to reduce the compliance burden, resulting in Rs 13 million in investment commitments during the Global Investors Summit in Vizag.

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