The Department for Promotion of Industry and Internal Trade (DPIIT) and the Korea Transport Institute (KoTI), South Kore have signed a Memorandum of Understanding (MoU) on logistics and infrastructure development.
Key Highlights of the MoU
Objective and Scope : The MoU aims to enhance cooperation in logistics and infrastructure development by leveraging KOTI’s expertise to support India’s ambitious infrastructure initiatives.
- Establishment of joint working meetings to advance logistics development strategies.
- Strengthening institutional cooperation between DPIIT’s Logistics Division and KOTI.
- Developing comprehensive infrastructure and logistics master plans under PM GatiShakti National Master Plan.
Key Areas of Collaboration: The partnership focuses on knowledge-sharing and research-driven programs to improve logistics and infrastructure, including:
- Exchange of technical expertise and best practices for logistics planning.
- Training and capacity-building programs for professionals in the sector.
- Technology adoption and innovation in logistics and supply chain management.
- GIS data-based technology promotion on an international platform.
Significance and Benefits
Strengthening Logistics and Infrastructure
- The collaboration will improve India’s logistics ecosystem, aligning with global best practices.
- It will aid in the formulation of long-term master plans under PM GatiShakti.
Advancing Research and Innovation
- Establishing a research-driven framework will enhance India’s technical capabilities in infrastructure planning.
- Adoption of smart logistics solutions will drive efficiency and sustainability.
Global Promotion of PM GatiShakti
- The MoU will help showcase the achievements of PM GatiShakti on a global stage.
- India’s GIS-based infrastructure planning can gain international recognition and collaboration.
Strengthening India-South Korea Bilateral Ties
- This agreement marks a step forward in deepening diplomatic and economic relations between India and South Korea.
- It will create new opportunities for investment and joint infrastructure projects.