National Logistics Policy: Prices will come down! Cabinet approved the logistics policy, know how you will get the benefit

 National Logistics Policy: Prices will come down!  Cabinet approved the logistics policy, know how you will get the benefit

Photo:FILE PM Modi

The Union Cabinet on Wednesday approved the National Logistics Policy. This policy of the government will reduce the cost of transportation of goods, while ensuring uninterrupted supply of goods in the country. Prime Minister Narendra Modi had unveiled the National Logistics Policy on Saturday last week with an aim to reduce logistics cost in the country.

Union Information and Broadcasting Minister Anurag Thakur told after the cabinet meeting that our target is to reach India in the list of top 25 countries by 2030. It will be monitored by the Empowered Group of Secretaries constituted under the existing institutional mechanism for monitoring the policy i.e. PM Gatishakti National Master Plan, the statement said. An empowered group of secretaries will constitute a ‘Service Improvement Group’ to monitor the process parameters and digital and regulatory reforms in the logistics sector.

the cost of transportation will decrease

Introducing this policy, Prime Minister Narendra Modi had said that we should reduce the current logistics cost of business from 13-14 percent to one digit i.e. below 10 percent at the earliest. Apart from this, the government is trying to make India one of the top 25 countries in the Global Logistics Performance Index Ranking by 2030. Currently, India was ranked 44th in the previous edition of the list.

National Logistics Policy

Image Source : INDIATV

National Logistics Policy

Goal of Logistics Policy:

  • The logistics policy aims to cut costs, which currently account for around 14-15 per cent of the Gross Domestic Product (GDP). Which is to reduce by about 8 percent by the year 2030.
  • The logistics cost is less than the GDP ratio in the US, South Korea, Singapore and some European countries.
  • The current cost is 16% of GDP.
  • Being the 5th largest economy in the world, India aims to be among the top 10 in the Logistics Performance Index (LPI) by 2030. India was ranked 44th in the LPI in the year 2018.
  • Creating a data-driven decision support system to enable efficient logistics ecosystem.
  • The problems related to logistics should be minimized, exports should increase manifold and small industries and people working in them should get more benefits.

14 states framed logistics policy

Under the policy, attention will be given to opening the way for proper development in respect of godowns. This includes optimal space planning, promotion of standards, digitization and automation of the logistics value chain and improved monitoring systems. According to the statement, 14 states have framed their respective logistics policies, while 13 states are in the process of being drafted. Arshdeep Singh Mundi, Managing Director, Jujhar Logistics said on the policy that it is an important step towards strengthening the logistics sector through integration of efficient measures.

what is logistics

In fact, essential things are not available everywhere in remote villages or cities in India. From food and drink to diesel-petrol, from big to small goods, traders have to carry their goods, raw materials used in factories, essential fuel and all kinds of things from one place to another, sometimes this distance If it is less, then sometimes this distance is very long. A large network works behind this, which delivers things to the specified place on time. This is what is called freight transportation.

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