The government is working on several areas such as building infrastructure to improve logistics system in the country with a view to promote trade and industrial activities, Union Minister C R Chaudhary said today.
The minister of state for commerce and industry said that development of strong logistics system is fundamental to boost trade, commerce and industry.
"We are losing 14 per cent of GDP on inefficient logistics systems. Minimum cost with best quality is main demand of consumers. Government is working on developing the systems," he said here at the Global Logistics Summit.
Logistics systems, includes cold chains, warehousing, transportation, connectivity and storage.
"We are developing our national highways, inland waterways and modernising ports," he said.
Logistics Data Bank project is underway to make India's logistics sector more efficient through the use of information technology.