Pic courtesy ANI
New Delhi: Among multiple activities on his 72nd birthday, Prime Minister Narendra Modi launched the National Logistics Policy (NLP) here on Saturday.
According to the PM, the NLP is an important step towards the “making of a developed India”, will act as a “new energy for every sector”.
The aim of the policy is to bring down the logistics cost and improve competitiveness of domestic goods in the global market, reported ANI.
While India spends around 13% to 14% of GDP on logistics cost, in countries like Germany and Japan logistic costs are 8-9% of their GDP.
The logistics sector has over 20 government agencies, 40 partner government agencies (PGA), 37 export promotion councils, 500 certifications, over 10,000 commodities and a $160-billion market.
India was ranked 44th in logistics cost according to World Bank Logistics Index of 2018 – compared to the United States of America’s 14th and China’s 26th.
“India is emerging as a manufacturing hub. The world has accepted India as a leader in manufacturing. The National Logistics Policy will help the manufacturing sector,” the PM said.
He added that the policy will serve as a solution to many problems and would lead to improvements of “all our systems”.
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