The government may consider the announcement of the National Logistics Policy to promote seamless movement of goods across the country in the forthcoming Budget, sources close to the Ministry of Commerce told PTI.
The draft policy is primarily aimed at reducing the logistics cost which currently sits at 14% of GDP and is expected to be a major gamechanger to the overall sector.
According to the sources, the policy is being worked out by the logistics division under the commerce ministry. Incidentally, the Ministry of Commerce, headed by Piyush Goyal, has sent the proposed National Logistics Policy to the Cabinet for approval earlier in September last year.
Other objectives of the draft policy include creating a national logistics e-marketplace as a one-stop marketplace for exporters and importers, set up a separate fund for start-ups in the logistics sector and to double employment in the sector.
During a recent interaction with Logistics Insider, the special secretary (Logistics) N Sivasailam touched upon how the policy, through effective implementation, could provide an impetus to trade, enhance export competitiveness, improve India’s ranking in the Logistics Performance Index as well as reduce losses due to agri-wastage.