Commerce Ministry proposes ‘non-lapsable’ logistics fund in the draft of National Logistics Policy

Post By : News Desk
Post Date : February 6, 2019
Share with
Reading Time: < 1 minute

Prime Minister will Head the National Council for Logistics

The Ministry of Commerce and Industry has released the draft of National Logistics Policy and proposed creation of a non-lapsable logistics fund to drive progress in logistics sector. The policy aims at integrating and optimising various elements of a logistics value chain, to ensure seamless, multi-modal growth of an efficient logistics sector in India.

The draft also includes proposals of single-window e-marketplace and law to define the role of various stakeholders in a supply chain. The ministry has sought views of the stakeholders by February 19 before taking any final decision on the draft.     

Further, the draft has suggested constitution of four committees or councils including the National Council for Logistics, chaired by the Prime Minister; an apex inter-ministerial committee, chaired by the Minister of Commerce and Industry; an India Logistics Forum chaired by the Commerce Secretary; and an empowered task force.

The other thrust areas of the policy include focusing on critical projects to enable first mile and last mile connectivity; proper development of multi-modal logistics parks (MMLP); interventions to reduce logistics cost and promote efficiency for movement of key commodities; and setting up a Logistics Data and Analytics Center.

Besides, it includes creating a Center of Trade Facilitation and Logistics excellence; promoting cross-regional trade on e-commerce platforms through a seamless flow of goods; promoting green logistics; and setting up a start-up acceleration fund. It said a non-lapsable logistics fund will be created, to drive progress against the key thrust areas.

The fund can be deployed for providing viability gap funding for select MMLP projects, first and last mile projects and projects for poorly-serviced remote areas; incentivising select logistics skilling programmes and setting up a start-up acceleration fund to incentivise the development of new technology.

2 thoughts on “Commerce Ministry proposes ‘non-lapsable’ logistics fund in the draft of National Logistics Policy

Leave a Reply

Your email address will not be published. Required fields are marked *