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The purpose of the brand new policy is to facilitate seamless motion of products throughout the nation, Commerce and Industry Minister Piyush Goyal stated.
“On September 17, the prime minister is going to release the country’s logistics policy,” Goyal stated right here whereas addressing the members of the Board of Trade.
The anticipated focus areas within the policy embrace course of re-engineering, digitisation, multi-modal transport, and many others.
According to specialists, the transfer is critical due to the truth that excessive logistics price carry down competitiveness of home items within the worldwide market.
The authorities has repeatedly emphasised on the necessity to carry down logistics price within the nation from the present ranges of 13-14 per cent of GDP.
According to the government, bettering the sector will facilitate 10 per cent lower in oblique logistics price resulting in a 5 to eight per cent rise in exports.
This is a fancy sector with greater than 20 authorities companies, 40 PGAs (Partner Government Agencies), 37 export promotion councils, 500 certifications, over 10,000 commodities, and $160 billion market measurement.
It additionally includes 200 delivery companies, 36 logistics companies, 129 ICDs (Inland Container Depots), 168 CFSs (Container Freight Stations), 50 IT ecosystems, banks and insurance companies.
The value of Indian logistics market is estimated at over $200 billion. The sector gives livelihood to greater than 22 million folks.
