Indian Union Minister of State for Food and Public Distribution Akhilesh Prasad Singh has said that the Central Warehousing Corporation (CWC) will develop infrastructure for import-export trade in this part of the country with an objective to give a boost to local industries and entrepreneurs, the Hindu reported.
Laying the foundations for US$2 million Container Freight Station being developed by the CWC at Mangattuparamba, Singh said that similar infrastructure would help entrepreneurs bring down logistics cost.
The CWC would provide state-of-the-art infrastructure to boost export-import trade, he said adding that the container freight station being developed would encourage local entrepreneurs to set up new industries and export units in the area.
At present 14 percent of the production cost had to be spent on logistics, which should be brought down, said Singh.
Cost cutting in logistics was also important at a time when the trade and industry was struggling to tide over recession, the Minister said. The cost of logistics was very high because of poor connectivity. The government was now taking new initiatives to develop ports and other facilities that would further reduce the cost, he said.