Logistics & Supply Chain - #SectorUpdates
The Prime Minister unveiled the National Logistics Policy to give a fillip to the country’s logistics sector. The policy is the country’s first holistic approach towards USD 200 billion logistics sector. Through this policy India aims to reduce logistics cost to 10 percent of Gross Domestic Product over the next five years from the current estimates of 13-14 percent. The NLP focuses to bringing departments belonging to ministries of road transport, railways, customs, aviation, foreign trade and commerce to one platform. The policy will have four critical features: Integration of Digital System, Unified Logistics Interface Platform, Ease of Logistics Service Portal, and System Improvement Group for creating a more transparent system with digitalisation and simplify trade documentation. The policy will complement the PM Gati Shakti — National Master Plan and is likely to improve export competitiveness by enabling seamless movement of goods and people, and reducing the cost of doing business.