NEW DELHI, JUNE 28, 2023 (GPN)- Today, industry leaders and experts gathered at the Supply Chain Management & Logistics Summit 2023, shedding light on India’s remarkable journey towards transforming its trade landscape and emerging as a global leader. With a focus on strategic initiatives and advancements in supply chain management, logistics, and maritime infrastructure, the event, organized by ET Edge, provided an insightful platform for dialogue and collaboration.

The summit featured a distinguished line-up of speakers who delved into critical topics shaping India’s trade ecosystem. The discussions highlighted the importance of world-class port infrastructure and ‘Smart Ports’ implementation to improve business efficiency. The speakers emphasized the need for reducing logistics costs and enabling multi-modal shifts to enhance the efficiency and competitiveness of India’s supply chains.

In his keynote, Shri Nitin Gadkari, Minister of Road Transport & Highways, Government of India, said, “For India to achieve the PM’s dream of a USD 5 Trillion economy, our exports have to increase and imports reduced. Supply Chain Management & Logistics has a huge role to play in this transformation. We aim to reduce the logistics cost to 9% from the current 14% -16% by the end of 2024. Good roads, alternative fuels, and increased usage of waterways are important factors that shall make this possible. I urge the industry to use the waterways developed in Ganges & Brahmaputra rivers and utilize the route to reach North Eastern states, as all protocols and agreements with our neighbors have been signed. There are 40 river ports and 4 multimodal ports on the Ganges route alone. The world wants to buy from us, and we make our exports competitive by leveraging efficient logistics management.”

Shri Sanjeev Ranjan, Chairman of the National Shipping Board, shared valuable insights on the Sagarmala Project, an ambitious endeavor to rejuvenate sea ports for economic development. His presentation showcased the project’s potential to enhance India’s trade capabilities and strengthen its position in the global supply chain ecosystem.

The summit witnessed engaging discussions on various crucial subjects, including self-reliance in shipbuilding, repair, and recycling, reformation of shipping policies and institutional frameworks, establishing India as a world-class maritime research, education, and training hub, and promoting waterways as sustainable transportation routes. These discussions paved the way for innovative ideas and collaborations, propelling India towards global supply chain management and logistics leadership.

During the event, the Minister of Ports, Shipping, and Waterways, Shri Sarbananda Sonowal, shared his optimism about India’s global supply chain management future. He highlighted the substantial progress made by Indian ports, surpassing the average container dwell time of the United States and Germany. Minister Sonowal also underscored India’s commitment to green shipping through the implementation of the National Action Plan for Green Shipping. Remarkably, India has been chosen as the first country to pilot the transformation of the shipping sector into a low-carbon industry.

Minister Sarbananda Sonowal further emphasized the need to raise awareness among the youth about climate change and its impact on the environment. His powerful statement, “Prakati Rahega to Prani Rahega,” resonated with the audience, highlighting the collective responsibility to combat climate change for preserving all life forms.

The summit also addressed the significance of institutional, regulatory, and legislative reforms in streamlining trade processes and creating a favorable business environment. The speakers emphasized the imperative of fostering a safe, sustainable, and green maritime sector through innovative practices and technologies.

“Supply Chain Management & Logistics is at the heart of the global economy and critical to the sustenance of humanity. We are happy to organize this highly engaging and educative annual conference designed to deliver practical information about supply chain agility, policies, supply risk management, automation of repetitive tasks, technology development, and more. Over the years, the summit has served as the most important platform to engage in dialogue with the leaders on the most significant opportunities and challenges of recent times. I strongly believe that together, we can navigate the supply chains and contribute to nation-building”, says Deepak Lamba, CEO of Worldwide Media (WWM), President of Times Strategic Solutions.

The event showcased several important talk points resonating with India’s global leadership aspirations. Speakers underscored the nation’s commitment to self-reliance in shipbuilding, repair, and recycling, which promotes indigenous capabilities and strengthens the maritime industry. The discussions also centered around the ongoing reforms in shipping policies and institutional frameworks to enhance India’s global stature in the ocean, coastal, and island cruise hub domain.

Recognizing the importance of research, education, and training, the summit emphasized the development of world-class maritime facilities to nurture talent and expertise. The speakers highlighted the role of such initiatives in driving innovation and shaping the maritime industry’s future.

Moreover, the summit explored the potential of waterways as efficient transportation corridors, focusing on emissions reduction and significant improvements in turnaround time. The discussions emphasized the need for a multimodal shift towards waterways, including the Ganges and Brahmaputra rivers and other navigable water routes. Such shifts reduce transportation times and lower carbon footprints compared to traditional road-based transportation systems.

“The Supply Chain Management & Logistics Summit 2023 serves to showcase India’s strengths and potential in the global trade ecosystem. The event brings together influential voices from industry and government, fostering meaningful dialogues and collaborations to drive India’s transformation as a global trade leader”, says Sunita Quadros, Chief Business Officer- Times Strategic Solutions Limited.

The Supply Chain Management & Logistics Summit 2023, organized by ET Edge, has set the stage for India’s emergence as a force to be reckoned with in the international trade arena. The summit has reinforced India’s commitment to transforming its trade landscape and achieving global leadership by focusing on world-class infrastructure, institutional reforms, and sustainable practices.

About ET Edge:

ET Edge, the event management arm of The Economic Times, India’s leading business daily, is a global platform that facilitates meaningful dialogues, knowledge dissemination, and networking opportunities across various industry domains.