CONTRIBUTION OF TRANSPORT INDUSTRY IN ECONOMIC DEVELOPMENT OF INDIA

Transportation infrastructure is a crucial part of any country's transportation system. The importance of transportation as a catalyst for socioeconomic development has grown along with social upheaval and the intensification of international interactions as a result of globalization processes. Scientific study is increasingly concentrating on various aspects of the expansion of the transportation infrastructure. As an economic factor, transportation is both a function of economic growth and an indication of economic performance. Hence, both academic and non-academic circles are debating the issues of measuring the effectiveness of transportation infrastructure and the relationship between transportation infrastructure and economic development. This study analyses the function of transport infrastructure in world economic growth and discusses the idea of transportation infrastructure as an essential component of the transport system in a nation. Trade practices, both globally and locally, are crucial to the advancement of society and the economy. Infrastructure for transportation plays a significant role in the efficient flow of products. The movement of commodities will be facilitated by the transportation infrastructure, which will foster economic growth. This essay examines four typical forms of transportation infrastructure upgrades and their effects on the economy.

 

Keywords: Logistic Operation, Economic Development, Economic Indicators, GDP, GNP, GVA.


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