Manufacturing Clusters News

India government will speed up the ambitious Sagarmala project from 10 years to five years, said Nitin Gadkari, Minister of Road Transport, Highways and Shipping. “Following Prime Minister Narendra Modi’s intervention, it has been decided to finish Sagarmala project in five years instead of 10 years to create a massive 10 million jobs,” he said. Sagarmala project, aimed at promoting port-led development in India, could lead to annual logistics cost savings of Rs 35,000 crore and boost India’s merchandise exports to $110 billion by 2025. The project will bring down India’s logistics cost from 18 percent to 10 percent, resulting an equal competition with China’s prices, he said.