Union Minister of State for Commerce and Industry Som Prakash said that the cost of logistics (undertaking to deliver goods to customers) in India is 30-40 percent higher than the global standards and reducing it is a big challenge.Som Prakash was addressing during the valedictory ceremony of the 14th Punjab International Trade Expo (Pitex) being organized by the PHD Chamber of Commerce and Industry in Amritsar on Sunday. He said that the rise in average spending on logistics in India is a big challenge for the government. Currently, this spending is 30–40 percent higher than global standards.Som Prakash said that there is a plan to invest about Rs. 100 lakh crore on the development of infrastructure for logistics. He called upon industrialists to take advantage of Central Government’s schemes to expand their industries and create more employment opportunities for the youth. The Union Minister said that the role of industries is important in the economic development of any country or region. Pitex is playing an important role in this direction. Speaking on the occasion, PHD Chamber of Commerce and Industry,Punjab Chapter Mentor R.S Sachdeva said that on the demand of the people of Punjab, now Pitex will be organized in Amritsar as well as Ludhiana.Karan Gilhotra, Chairman, Punjab State Chapter, PHD Chamber of Commerce and Industry, thanked the district administration for the successful organization of Pitex, saying that Pitex has been able to reach at this level due to the support being provided by the administration from time to time in Amritsar and said that not only Amritsar but also people from Tarn-Taran and Jalandhar were also arriving at Pitex. For Amritsar, it has become an event that everyone waits for the whole year. On this occasion, Madhu Pillai, Regional Director of the Chamber and Amritsar Convenor Jaideep Singh, besides several dignitaries were present.
Pitex Ludhiana 20-20 poster unveiled
Union Minister of State for Commerce and Industry Som Prakash also unveiled the official poster and brochure of Pitex 20-20 to be held for the first time next year in Ludhiana. According to Chamber Chairman Karan Gilhotra, Pitex will be organized in Ludhiana during the month of March.