Vizag Has Potential to be a Logistic Hub - Minister

Vizag Has Potential to be a Logistic Hub, Vizag Has Potential to be a Logistic Hub 2015, Vizag Has Potential to be a Logistic Hub – Minister says minister.

Vizag Has Potential to be a Logistic Hub : Minister :-

Union minister of state for commerce and industry Nirmala Sitaraman said that logistics is the key to growth and added that Vizag has bright hinge due to its virtue of being strategically located on the east coast. The union minister said Vizag has potential to emerge as logistics hub and her ministry would support in this endevaour. “The industrial corridors such as the Vizag – Chennai Industrial Corridor will have a great impact on logistics sector. Feasibility study of the VCIC by Asian Develop-ment Bank has been accepted and work has already started on the corridor. CFS like this would only give boos to EXIM trade,” she said.

Meanwhile, Vizag MP K. Had Babu said Vizag has been identified as a town of export excellence along with Bhimavaram by the ministry of commerce, which will boost exports. He said that a packaging park spread over an area of 100 acres with 10 acres earmarked for the Indian Institute of Packaging is also on the anvil. He urged the union minister to sanction Indian Institute of Packaging (IIP), Indian Institute of Plantation Management (IIPM) and Indian Institute of Foreign Trade (IIFT) for Vizag. Meanwhile, speaking on the occasion, Vizag princi-pal customs commission. er C. Rajendiran said that the overall customs rev-enue had registered a growth of 58 per cent in the first three months of the current fiscal. He said that while revenue from customs witnessed a growth of 38 per cent in the first quarter of the current fiscal, revenue collection from excise grew by 87 per cent where-as service tax collections rose by 17 per cent. He said that while Vizag already has 6 container freight stations, another four are expected to come up soon.

This Article was First Appeared in Deccan Chronicle.


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