The goal 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 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 so on.
According to specialists, the transfer is important due to the truth that excessive logistics price convey down competitiveness of home items within the worldwide market.
The authorities has repeatedly emphasised on the necessity to convey down logistics price within the nation from the present ranges of 13-14 per cent of GDP.
According to the government, enhancing 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 posh 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 dimension.
It additionally entails 200 delivery companies, 36 logistics providers, 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 supplies livelihood to greater than 22 million individuals.
