India's Logistics Cost to Drop to 9% in 2 Years: Gadkari

New Delhi, Dec 11 (PTI) Union minister Nitin Gadkari on Wednesday said the logistics cost in India will come down to 9 per cent within two years.

Speaking during bauma Conexpo India, the Road Transport and Highways Minister said that "presently our logistics cost is 14-16 per cent... I assure you that within two years... our logistics cost will be 9 per cent. So we will be more competitive in the international market."

In China, the logistics cost is 8 per cent and in the US and European countries it is 12 per cent, the minister said.

The minister further said the automobile industry is one of the important industries that is giving maximum revenue as part of GST to the state governments and the Centre.

The role of the automobile industry is very important to make India a USD 5 trillion economy, he said.

The construction equipment, he said, is also part of this automobile industry.

The government is developing infrastructure of international standards, he said, adding that water, power, transport and communication are four sectors where the government is giving the highest priority for development.

The aim of the government is to reduce the cost of construction without compromising the quality of construction, Gadkari added.