A tripartite agreement for the swift development of modern Multi Modal Logistics Parks (MMLP) under the Bharatmala project across India has been signed with an objective to centralise freight consolidation and reduce logistics cost from 14 percent to less than 10 percent of GDP at par with international standards. The tripartite agreement was signed by National Highways Logistics Management Limited (NHLML), Inland Waterways Authority of India (IWAI) and Rail Vikas Nigam Limited (RVNL).