New Delhi March 20 (IANS) With the rapid development of infrastructure, the government aims to bring down logistics costs by more than 5 percentage points to less than 10 per cent of GDP so that India becomes more competitive with China and the USA, Union Minister for Road Transport and Highways Nitin Gadkari said on Thursday. Inaugurating the Convergence India & 10th Smart Cities India Expo at Bharat Mandapam here, Gadkari said: "India's economy is growing rapidly, with infrastructure development playing a key role. Our goal is to reduce logistics costs from 14-16 per cent of GDP to single digits, making us more competitive with China and the US."

Under the theme "Imagining an AI-Driven Future Today: Innovating for a Better Tomorrow", the expo is being organised by the Exhibitions India Group (EIG) and India Trade Promotion Organisation (ITPO). Over the next three days, an impressive audience of over 50,000 will visit the venue, where they will get to explore and experience technologies, gadgets, and innovations presented by 1,000 exhibitors from 28 countries. Notably, a large contingent of 200 startups mark their presence in a display of their growing capabilities in new-age technologies.

In addition to solutions in 5G & 6G, AI, Big Data, IoT, Cybersecurity, AR/VR, Embedded Tech, EMS, Fintech, Urban Mobility and Smart City Solutions are on display at this year’s event, visitors can also enjoy offerings in Digital Gaming, Mobile Devices & Accessories, OTT, Security & Surveillance, E-commerce, Mobile Apps, Drone Tech, and more. The launch of the first edition of AI Bharat Expo focusing on the convergence of artificial intelligence and its uses in the industrial and retail ecosystem is among the highlights of this technology spectacle.

Another crowd-puller is the Startup Hub, featuring over 250 startups presenting innovations in emerging technologies, ICT, and Smart City solutions. It will facilitate mentoring opportunities by ecosystem pioneers, curated conference sessions, a Startup Pitch competition, and Investor & Startup meets. The popular Smart City & Fintech Innovation Awards will catapult this ecosystem to the next level. The expo will also host around 40 conference sessions during the three days to facilitate discussions among the government & industry representatives, innovators, think tanks, and academia on the latest developments and market trends impacting India’s digital revolution and urban landscape. During a session, Joint Secretary, Ministry of Electronics & IT, Sanket Bhondve observed: "India has one of the world's largest energy data sets, monitoring 3 lakh circuit km of transmission lines and 4 lakh MW of generation capacity, offering unmatched insights to enhance grid efficiency and drive data-driven decision-making."

/IANS