India Bolsters Logistics with USD 350 Million ADB Loan

The Indian Government and Asian Development Bank signed a USD 350 million loan agreement to enhance the logistics sector. The SMILE programme aims to improve logistics efficiency through multimodal infrastructure and standardized warehousing, driving private investment and strengthening supply chains across national and local levels.

The Government of India has secured a substantial USD 350 million loan from the Asian Development Bank to bolster the country's logistics sector. The agreement, announced on Friday, is part of the SMILE (Strengthening Multimodal and Integrated Logistics Ecosystem) programme, designed to boost logistics efficiency.

Officials from the Department of Economic Affairs, Ministry of Finance, and the Department for Promotion of Industry and Internal Trade joined ADB representatives in signing the agreement. Their collaboration signals significant reforms in the logistics sector, aiming to make India a competitive player globally.

Through SMILE, the government seeks to develop a robust policy framework enhancing multimodal logistics infrastructure across national, state, and city levels. By standardizing warehousing facilities and logistics assets, the programme hopes to attract more private sector investment and fortify supply chains.

(With inputs from agencies.)