New Delhi, Sep 20 (PTI) Civil Aviation Minister Jyotiraditya Scindia on Tuesday stressed upon the need to reduce logistics costs to a single digit number and said the role of government is not of being a "regulator but facilitator".

"We need to reduce logistics costs to a single digit number and bring about a paradigm shift in the way we look at reforms. There are three keywords connected with supply chain -- robust, resilience and reliability. They signify the presets of a successful supply chain paradigm," Scindia said during a session on "Future Ready Supply Chains" at LEADS summit organised by industry body FICCI.

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"The role of the government is not of being a regulator but facilitator where we work with all stakeholders whether they are in government or private sector and ensure their success on a level playing field. In their success lies our success and ultimately, India's success," he added.

Scindia emphasised that as a country, India needs to concentrate on four key factors. "Reducing logistics costs, enhancing export competitiveness, becoming a manufacturing powerhouse for the world and bringing paradigm shift in the way we look at reforms," he said.

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The Union minister exuded confidence that India will overtake Germany and Japan to become third largest economy by 2030.

"We are currently the fifth largest economy. The day is not far when we transcend both Germany and Japan to possibly become the third largest economy by 2030, that very much is within our grasp," he said.

LEADS (Leadership, Excellence, Adaptability, Diversity, Sustainability) is a global thought leadership initiative of FICCI.

"Airport infrastructure, skilled manpower, and cost optimization are three critical areas from the per se of the supply chain," said Praveen Iyer, Co-Founder and Chief Commercial Officer, Akasa Air, at the event. PTI GJS

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)