CARGOCONNECT-JANUARY2025 - Flipbook - Page 8
F R O N T L I N E
NARENDRA MODI
Prime Minister of India
In just the last decade, India has
risen to 5th largest economy in the
world. India’s economy and exports
have nearly doubled in the last 10
years. Foreign Direct Investment
had increased more than two times
in the last decade. Infrastructure
expenditure of India had increased
to `11 trillion from nearly `2 trillion. In the last decade, India's youth
power has added another dimension
to our strength and this new dimension was India's tech power and data
power. Further, new records were
being made in digital transactions,
all of which showcases the power
of our digital ecosystem.
Our services exports are significant.
It is an increasingly growing
surplus. So if I have a trade deficit of
US$250-300 billion, almost US$175200 billion get made up by services
exports. So the net Current Account
Deficit (CAD) is still in the 1% of
GDP category, which is not a matter
of concern. A lot of our imports are
directly co-related to our exports.
If India is importing US$30 billion
PIYUSH GOYAL
worth of gems and jewels, it is
Union Minister for Commerce
and Industry, Consumer Affairs, directly adding value and being
Food and Public Distribution
exported worth about US$37 billion.
and Textiles
Similarly, the US$15-17 billion of
mobile phones that India is going to
export, US$10-12 billion of imported
components are coming.
ASHWINI
VAISHNAW
Union Minister for Railways,
Communications, and IT
In a step toward fostering innovation, the Cabinet greenlit AIM 2.0
with a budget of `2,750 crore for
implementation until March 31,
2028. The initiative will further
strengthen India's entrepreneurial
ecosystem by supporting startups,
research, and development. To
improve connectivity, the Cabinet
sanctioned three multitracking
railway projects at a combined cost
of `7,927 crore. These projects are
expected to ease travel, reduce
logistics costs, lower oil imports,
and cut CO2 emissions, contributing
to a more efficient and environmentally friendly rail network.
8 | CARGOCONNECT JANUARY 2025
NITIN GADKARI
Union Minister for Road
Transport and Highways
SARBANANDA
SONOWAL
Union Minister of Ports,
Shipping and Waterways and
AYUSH
VUMLUNMANG
VUALNAM
Secretary, Ministry of Civil
Aviation (MoCA)
Indian electric vehicle industry has
the potential to develop 10 times
more than what it is currently
producing. The demand for EVs will
only grow and it is the appropriate
time for the industry to expand. The
e-vehicle industry would not only
help the automobile sector, but will
also play a key role in the Viksit
Bharat 2047 mission. Companies
must expand factories without
compromising on the quality to
compete against China. With the
government's push for make in India
batteries and EV infrastructure,
the lifecycle cost of lithium-ion batteries will come down to less than
US$100 in the next six months.
The ‘Jalvahak’ scheme aims to
unlock the trade potential of inland
waterways while reducing logistics
costs and decongesting road and
rail networks. It incentivises longhaul cargo transport and ensures
timely delivery through regular
freight services. This initiative
provides a positive economic
value proposition to trade. Cargo
volumes on national waterways
have increased from 18.07 million
tonnes in 2013-14 to 132.89 million
tonnes in 2023-24, registering over
700% growth. Going forward, the
government aims to achieve 200
million tonnes by 2030 and 500
million tonnes by 2047.
The remarkable growth of the
aviation sector is poised to
create numerous opportunities,
particularly for women, including
in the emerging field of drone
technology. The PLI scheme,
especially in the context of drone
manufacturing, stands at `120
crores. Impressive infrastructure
developments in the aviation
sector has already led to more than
doubling of airports in India in the
last ten years, growing from 74 to
157 airports. The number of aircraft
in India by domestic airlines is set to
grow to 1400 in the next five years
from the current 800.
