New Delhi: India and Bangladesh are soon to sign a bilateral agreement which aims to enhance connectivity and trade through river route between both the countries.
Speaking exclusive to ETV Bharat, Kailash Kumar Aggarwal, joint secretary, ministry of shipping said, "A separate bilateral talk is going on for enhancing our movement to Bangladesh through river route."
Aggarwal, who heads India's Sagarmala project, further added that the National Highway 1 was already being developed for the purpose which would also substantially enhance movements to northeastern states in India.
India is trying to reduce the overall logistic costs of freights through the Sagarmala project.
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"Logistic cost in India is very high about 14-15 per cent in comparison to 8-9 per cent logistic costs of the maritime countries," said Aggarwal.
Under the Sagarmala project, the shipping ministry of India is trying to increase the cargo movement up to 12 per cent though waterways during the next 15 years.
The project was launched in 2015 to improve the connectivity of logistic sector and also enhance the port connectivity across India.
Under this programme, 577 projects at an estimated costs of US $120 billion have been identified for port-modernisation, connectivity and enhancement.
The Sagarmala project aims to harness India's 7500 km long coastline.
