Japan’s bid to build a world-class logistics hub in the Indian Ocean comes at a cost

Japan has started work on a new logistics hub with a focus on India’s remote northern region, the ministry of logistics said.

The country is looking to develop its logistics sector with a view to exporting products from Asia and Africa to Europe, South America and Africa, it said in a statement on Thursday.

The $9.5 billion project aims to build three-tier warehouses with capacity of 5 million tons per year, as well as a logistics center for exporting goods to Asia and to Africa.

The logistics center will be located on a small island, about 200km (125 miles) west of Mumbai.

India is seeking to boost its presence in the global trade, and is looking at expanding its presence across the world.

The country is currently in the midst of a $400 billion trade surplus with the world, according to the International Monetary Fund.