New Delhi: The Union Cabinet on Wednesday approved the National Logistics Policy which aims to develop a technologically enabled, integrated, cost-efficient, resilient, sustainable and trusted logistics ecosystem for accelerated and inclusive growth.
Prime Minister Narendra Modi recently unveiled the Policy which seeks to cut transportation costs by promoting seamless movement of goods across the country.
This Policy lays down a clear direction for transforming India’s logistics sector, improving logistics efficiency, reducing logistics cost and improving global performance.
The Policy also lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional and comprehensive policy framework for the logistics sector.
The policy complements the PM Gati Shakti National Master Plan, while PM Gati Shakti National Master Plan is aimed at integrated infrastructure development, the National Logistics Policy is envisaged to bring efficiency in logistics services, and human resources through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies, a Cabinet release said.
The Policy sets targets and includes a detailed action plan to achieve the targets, like reducing cost of logistics in India to be comparable to global benchmarks by 2030, improving the Logistics Performance Index ranking, to be among top 25 countries by 2030, and creating data driven decision support mechanism for an efficient logistics ecosystem.
This policy paves way for reduction in logistics cost in the country. The focus will be on enabling adequate development of warehouses with optimal spatial planning, promotion of standards, digitization and automation across the logistics value chain and better track and trace mechanisms.
The policy also clearly lays down an action agenda for immediate on ground implementation of various initiatives.
This policy supports enhancing competitiveness of Micro, Small and Medium Enterprises, and other sectors such as agriculture and allied sectors, fast moving consumer goods and electronics.
This is expected to reduce logistics cost to achieve global benchmarks and improve country’s Logistics Performance Index ranking and its global positioning, the release added.