Exporters are sitting on large orders due to Russia-Ukraine war, union minister Nitin Gadkari has said
Owing to the ongoing Russia-Ukraine war, Indian exporters are sitting on large orders as logistics costs have risen sharply, union minister Nitin Gadkari said on Saturday.
He said exporters are concerned over availability of containers and port-related issues.
"Because of these complications, the industry is not being able to take advantage of such large exporter orders,” the Road Transport Minister said while addressing an industry event.
Mr Gadkari said the country has to reduce its dependence on crude oil, which is the need of the hour for the industry and opt for alternative fuel like green hydrogen.
He added that the government is in the process of setting up 35 multi-modal logistics parks (MMLP), which would help the Indian exports sector become more competitive in the international market.
The minister informed that the parks will be developed on public private partnership basis with a capital outlay of Rs 46,000 crore.