NEW DELHI: Indian Shipping Minister Nitin Gadkari said the government plans to spend roughly Rs. 70,000 crore (approximately $10.7 billion) on upgrades for major public ports under the “Sagar Mala” project over the next five years.
“Our logistics cost is thrice that of China. If we want to compete in the global market, logistics costs need to be reduced. Sagar Mala will address all these issues by developing ports and waterways in the country,” Gadkari said in New Delhi, after a maritime stakeholder meeting to review the program’s progress.