CII Calls for Technological Boost to Enhance Export Competitiveness
Industry body CII on Thursday said that steps such as increasing investments in the latest technologies for tracking and handling cargo, training workforce, and timely completion of critical infrastructure projects would help enhance the competitiveness of India's exports. Besides, it also said that there is a need for digital transformation of India's logistics networks as well.
Speaking at CII’s conference on Resilient Export Logistics for Trade and connectivity here, chairman of the CII national committee on EXIM Sanjay Budhia said that the digital transformation of India's logistics networks is a necessity. “Leveraging technologies for end-to-end supply chain visibility and tracking and tracing the cargo can dramatically streamline domestic processes and increase transparency and trust among global trade partners,” he said.
Budhia, who is also managing director of Patton Group, said that logistics forms the cornerstone of India’s international trade, playing a vital role in diversifying both the country’s exports and the products manufactured within it. “The growth of e-commerce has further emphasised the critical role of logistics in driving economic development,” he said.
Budhia further said that the government has actively worked to facilitate trade, lower logistics costs, and bolster global competitiveness for businesses. “Initiatives such as the Sagarmala programme, aimed at reducing both inventory and direct handling costs, is a major initiative by the government. We need significant investments in the latest technologies for tracking and handling cargo, and in addition, training our workforce," he said.
“We must prioritise the completion of critical infrastructure projects, such as dedicated freight corridors, which are essential for reducing bottlenecks and improving turnaround times. These recommendations assume significance as the government has set an ambitious export target of $ trillion by 2030,” he added.
