Sagarmala to save up to Rs.40,000 cr/year in costs

The government´s ambitious push to port-led development under the Sagarmala project will help in saving as much as Rs.40,000 crore annually in logistics costs by 2025. ¨According to a study conducted under the Sagarmala programme, there lies a significant potential for moving raw materials and finished products using coastal shipping and inland waterways which is 60-80 per cent cheaper than road or rail transport,¨ the Shipping Ministry said. Although the share of coastal shipping and inland waterways in the country´s modal mix remains low, an emphasis on coastal shipping to complement road and rail transport can lead to overall logistics cost savings, added the statement from the ministry.