India’s largest multi-modal logistic park | Top India's Mega Projects | Gujarat mega projects

India’s largest multi-model logistic park | Top India's Mega Projects | Gujarat mega projects
India’s largest multi-modal logistic park to come up at Virochan Nagar in Ahmedabad district of Gujarat
India’s largest multi-modal logistic park
Multimodal Logistics Park in Assam
India to set up its first multimodal logistics park in Assam
Gujarat mega projects
Assam mega projects
Make in India
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Delhi Mumbai Industrial Corridor (DMIC)
Delhi-Mumbai Expressway
Future projects of India
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Dedicated Freight Corridors in India
Atmanirbhar Bharat
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भारत के भविष्य के मेगा प्रोजेक्ट्स
भारत के मेगा प्रोजेक्ट्स।
भारत के बनने वाले मेंगा प्रोजेक्ट
Details-
The Gujarat government and Adani Ports and Special Economic Zone (APSEZ) signed a memorandum of understanding (MoU) on Friday for setting up a nearly 1,500-acre multi-modal logistics park near the auto hub of Sanand.
Spread across 1,450 acre at Virochan Nagar, the park is expected to attract investments worth Rs 50,000 crore in the logistics and transport space.
The construction is set to begin in six months and the project is expected to be over by 2023. India’s first multi-modal logistics park, too, is set to come up in 2023 in Assam.
Background:
Logistics Sector: According to the Asian Development Bank (ADB), logistics in India is expected to be a USD 215 billion industry in 2020. It is projected to expand through 2032 at a rate that is roughly 1.2 times the growth rate of India’s gross domestic product (GDP) and generate USD 400 to 500 billion in value added.
Infrastructure Status: Logistics has been accorded “infrastructure” status in 2017, facilitating the availability of debt on easier terms and access to external commercial borrowings, longer tenor funds from insurance companies, and pension funds, as well as investment support.
Challenges:
At 13%-14% of India’s GDP, logistics costs are far higher than the benchmark of 7%–8%.
India ranked 44 in the World Bank Logistics Performance Index 2018, which measures performance based on six metrics— customs, infrastructure, international shipments, logistics competence, tracking and tracing, and timeliness.
In India, each segment of logistics encounters significant challenges leading to high cost and low efficiency.
For example, road freight cost at Rs.1.9 per ton–kilometer (km) is almost double than that in the United States, while the average speed of freight vehicles is about 50%–60% lower.
Government Initiatives:
The Ministry of Commerce and Industry is considering replacing the Multi-Modal Transportation of Goods Act (MMTG), 1993 with a full-fledged national logistics law with a view to promote growth of the sector.
The Logistics Wing within the Department of Commerce, Ministry of Commerce and Industry, placed a draft of the National Logistics Policy in public domain in February 2019.
The main objective of the policy is to bring down logistics cost as a percentage of GDP to about 10%, optimize the modal mix (25%–30% share of road, 50%–55% railways, and 20%–25% waterways), improving last mile connectivity, and enhance the logistics value chain through digitization, standardization, and modernization of warehousing among others.
The development of Multi-Modal Logistics Parks (MMLPs) at strategic locations is envisaged as a key policy measure to rationalize cost of logistics in India and improve its competitiveness.
MMLPs serve five key functions: freight aggregation and distribution, multimodal freight transport, integrated storage and warehousing, information technology support, and value-added services.
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