Government to energise rail network with renewables by 2030

The government is working to upgrade the rail network with renewable energy by 2030 and will be fully electrified by 2023. It is also working on multi-modal logistics solutions to bring down the cost of transportation, increase supply chain efficiency.

Addressing the virtual session ‘Investment Opportunities in Andhra Pradesh’, during The Maritime India Summit 2021′, organised by the Ministry of Ports, Shipping and Waterways, jointly with FICCI, Mr. Goyal said that India has had a glorious maritime history and we are on the path to building an even greater maritime future. “In the last 6 years, the capacity of our major ports has almost doubled. We have developed smart cities and industrial parks and integrated ports with the coastal economic zones. Integration of Road, Rail & Waterways can truly make India ‘One Nation, One Market, One Supply’,” he added.

Goyal further said that we need to reduce our logistics cost so that the international and domestic freight costs will reduce from 13-14 percent cost of goods to a more acceptable international benchmark of 8 percent. “Bringing down the logistics cost is the need of the hour today. India cannot be competitive as long as our logistics cost remains so high. We are working on multi-modal logistics solutions to bring down the cost of transportation & increase supply chain efficiency. It’s time that we plan our port sector in such a manner that we can have modern and efficient ports, the turnaround time of ships can be brought down significantly. A more competitive spirit will help to keep the cost in freight and at port low,” he said.

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