Around 56 new airports will become functional in the next few years, Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu said at the two-day Global Logistics Summit recently held in New Delhi. The minister further said that by bringing all the stakeholders together, it will create the right platform to improve logistics and connectivity which are vital for increasing intra-state and international trade flows.
Indian logistics industry is estimated at around US $ 215 billion in 2019-20, growing at over 10% annually. In the last decade or so, significant improvements in railways, roads, highways, inland waterways, aviation, ports and coastal shipping have taken place. To support awareness building and develop better understanding on these issues, the Department of Commerce, Ministry of Commerce & Industry, in partnership with FICCI and the World Bank Group, organised the Summit to discuss relevant issues among global experts, academics, government officials, private sector and industry representatives.