nationwide logistics coverage: India’s nationwide logistics coverage set for launch on September 17: Some key particulars

The intention of the brand new coverage is to facilitate seamless motion of products throughout the nation, Commerce and Trade Minister Piyush Goyal mentioned.

“On September 17, the prime minister goes to launch the nation’s logistics coverage,” Goyal mentioned right here whereas addressing the members of the Board of Commerce.

The anticipated focus areas within the coverage embrace course of re-engineering, digitisation, multi-modal transport, and so forth.

In accordance with specialists, the transfer is important due to the truth that excessive logistics value convey down competitiveness of home items within the worldwide market.

The federal government has repeatedly emphasised on the necessity to convey down logistics value within the nation from the present ranges of 13-14 per cent of GDP.

In accordance with the government, enhancing the sector will facilitate 10 per cent lower in oblique logistics value resulting in a 5 to eight per cent rise in exports.

This can be a advanced sector with greater than 20 authorities companies, 40 PGAs (Associate Authorities Businesses), 37 export promotion councils, 500 certifications, over 10,000 commodities, and $160 billion market measurement.

It additionally entails 200 transport companies, 36 logistics providers, 129 ICDs (Inland Container Depots), 168 CFSs (Container Freight Stations), 50 IT ecosystems, banks and insurance coverage companies.

The value of Indian logistics market is estimated at over $200 billion. The sector offers livelihood to greater than 22 million individuals.