Northeast India's Logistics Network Set for $150M Boost, Driving Economic Growth
The northeast region, home to over 45 million people, is poised for significant growth in its logistics network. With 17 air cargo terminals and over 2.5 lakh MT of cold storage capacity, the region is set to benefit from a World Bank project worth US$ 150 million, aimed at developing its logistics ecosystem. This comes as the seven northeast states contributed 2.8% to India's GDP in 2019-2020.
The Prime Minister's Gati Shakti initiative, launched in October 2021, is integrating planning and implementation of infrastructure connectivity projects. This includes two multimodal logistics parks under development in Tripura and Assam, set to serve as logistics capitals. Experts gathered at the NE Logistics Conclave 2022 in Guwahati emphasized the need for proactive planning and investments in sustainable modern warehouses to enhance logistics infrastructure.
With the potential to become an eastern gateway for trade with southeast Asia, improving logistics connectivity in the northeast could stimulate further GDP growth. The Central Government has already sanctioned over INR 26,000 crore for northeast development through various schemes till August 2021.
The northeast region's robust infrastructure, including rapidly growing road and rail networks, positions it for significant economic growth. With international trade potential and strong government support, the region is set to transform its logistics landscape, driving economic progress.
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