New Delhi - The Government is working to bring down logistics cost to 9 per cent of GDP in the next three years from the current 14-16 per cent, Union Minister Nitin Gadkari said on Wednesday. Speaking at an event organised by industry chamber CII, the Road, Transport and Highways Minister further said India's exports will increase when its logistics cost will come down to single digit.

The Government is going by certain estimates which suggest that logistics cost in India is in double digits. The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost competitiveness of industry and cut logistics costs.

Earlier this year, the Commerce and Industry Ministry had said that a task force will be set up for The task force members would include representatives from NITI Aayog, Ministry of Statistics and Programme Implementation (MOSPI), National Council of Applied Economic Research (NCAER), academic experts and other stakeholders.

In terms of EV production, Gadkari said that India was 4th in EV production and is currently 3rd, leapfrogging Japan, and would be first in the next 5 years.

" India is a major export hub of cars and in the coming days, our tractor, buses, auto rickshaws will be exported too," he said.

The Minister urged the private sector to come forward and leverage the increasing investment opportunities in the sector, given the increasing economic viability, per-capita GDP and rising opportunities.

"Entrepreneurship and adequate investments are highly important to make India a super economic power," he said.