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PM Narendra Modi to unveil the National Logistics Policy today at Vigyan Bhawan

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The Prime Minister Sh. Narendra Modi will be unveiling the much awaited National Logistics Policy (NLP) today at the Vigyan Bhawan in the Capital city. The announcement will be made at 5.30 pm IST. The policy is expected to primarily target lowering the logistics cost from a current 13-14% to around 8% of GDP in the upcoming years, along with improving on the parameters of Ease of Doing Business and Ease of Living.

“It is imperative to reduce the logistics cost in India for improving the competitiveness of Indian goods both in domestic as well as export markets. Reduced logistics cost improves efficiency cutting across various sectors of the economy, encouraging value addition and enterprise,”

PMO statement

The logistics cost in India is considered comparatively higher than other developed nations and the government of India has been making considerable efforts to bring it down around the global average of 8%. The NLP will constitute of various reforms and initiatives in order to address the issues of high cost and inefficiency by laying down an overarching interdisciplinary, cross-sectoral and multi-jurisdictional framework for the development of the entire logistics ecosystem.

Source: MoneyControl

The Policy will further the agenda of increasing employment opportunities and overall economic growth of India. The PMO statement also said, “It has been the vision of the Prime Minister to develop world-class modern infrastructure through integration of all stakeholders in holistic planning and implementation so that efficiency and synergy are achieved in the execution of the project. The PM Gati Shakti – National Master Plan for multi-modal connectivity – launched by the Prime Minister last year, was a pioneering step in this direction. PM Gati Shakti will get further boost and complementarity with the launch of National Logistics Policy.”

An empowered group of secretaries (EGoS), constituted under the PM Gati Shakti, would monitor and review the implementation of the policy. A service improvement group would be there for resolution of user issues.

The Indian logistics and supply chain sector is a complex mechanism with more than 20 government agencies, 40 PGAs (Partner Government Agencies), 37 export promotion councils, 500 certifications, over 10,000 commodities, and USD 160 billion market size. It also involves 200 shipping agencies, 36 logistics services, 129 ICDs (Inland Container Depots), 168 CFSs (Container Freight Stations), 50 IT ecosystems, banks and insurance agencies.

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