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FIEO to organize mega logistics meet early next year

28 Nov 2018 Evaluate

With an aim to explore logistics partnerships with India, the Federation of Indian Export Organisations (FIEO) has said that it will organize a mega logistics meet from January 31, 2019-February 2, 2019. Mega logistics meet will improve logistics cost effectiveness and operational efficiencies for India’s global trade.

It is expected that over 20 countries including Afghanistan, Iran and Iraq to participate in a mega logistics meet early next year. The meet will focus on investment opportunities in infrastructure development, warehouse consolidation, technology integration and IT enablement and skilling of manpower.

Besides, the cost of logistics in India is a high 14 per cent, whereas in developed economies, its nearer 8 per cent. India ranked 44 in the World Bank’s Logistics Performance Index 2018. According to the Economic Survey 2017-18, India’s logistics industry is worth around $160 billion and is likely to touch $215 billion in the next two years.