Fast Tracking Freight

(GS PAPER-3, GROWTH AND DEVELOPMENT

SOURCE- THE HINDU)

Context-

  • Recently, NITI Aayog and Rocky Mountain Institute (RMI) has released a Fast Tracking Freight report in India.
  • A Roadmap for Clean and Cost-Effective Goods Transport, presenting key opportunities for India to reduce its logistics costs.

Key Highlights-

  • Increase in  Freight Transport Demand: There is a growing demand for goods and services, therefore freight transport demand is expected to increase rapidly in the future.
  • India’s Potential: It has the ability to reduce its logistics cost by 4% of Gross Domestic Product (GDP) and to achieve 10 gigatonnes of cumulative carbon dioxide emissions savings between 2020 and 2050
  • Accommodating More Urban Citizens: As India’s freight activity will grow five-fold by 2050 and about 400 million citizens are moving to cities, a whole system transformation can help uplift the freight sector.
  • To Make Freight Transportation Cost Effective: Freight transportation is the prime backbone of India’s growing economy. Efficient freight transport is also playing an essential role in analyzing the benefits of existing government initiatives such as Make in India etc.

Recommendations-

  • By increasing the rail networks in the country, promoting intermodal transport, improving warehousing, trucking practices, policy measures and pilot projects for clean technology adoption, and stricter fuel economy standards.
  • When it is deployed at a large scale, the proposed solutions can help India in establishing itself as a leader in logistics innovation and efficiency in the Asia–Pacific region and beyond.

-Khyati Khare

Download Daily Current Affairs of 11th June 2021

Khyati Khare

Plutus IAS Current Affairs Team

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