PM Modi unveils National Logistics Policy
Prime Minister Narendra Modi launched the National Logistics Policy (NLP) at Vigyan Bhawan, New Delhi on 17 September.
IMPORTANT FACTS -
- The central government has been working on the National Logistics Policy for three years.
The commerce ministry released a draft logistics policy for consultation in 2019, but it was delayed due to the COVID-19 pandemic.
Finance Minister Nirmala Sitharaman announced the National Logistics Policy in the budget 2022-23.
PM said faceless assessment has started in customs and e-way bills and FASTag are bringing efficiency in the logistics sector.
He said the Sagarmala project to link ports and dedicated freight corridors has started improving logistics connectivity and systematic infrastructure development work.
The Prime Minister said that India is now the fifth largest economy in the world and is emerging as a manufacturing hub.
Aim of the National Logistics Policy :
It aims to promote smooth movement of goods and enhance the competitiveness of the industry.
Through this policy, the focus will be on areas like process re-engineering, digitization and multi-modal transport.
Highlight of the Policy :
This policy seeks to support rapid growth in the aftermath of the corona pandemic.
It will streamline regulations and remove supply-side bottlenecks, besides providing a roadmap to reduce fuel costs and logistics costs.
The draft policy seeks to create a reference point for all logistics and trade facilities and to reduce costs for the logistics sector by 10 percent over five years.
The logistics sector is estimated to account for 13-14 per cent of the GDP.
This policy is an attempt to improve the competitiveness of Indian goods, increase economic growth and employment opportunities.
India's logistics sector :
India's logistics sector has more than 20 government agencies, 40 participating government agencies (PGAs), 37 export promotion councils, 500 certifications, over 10,000 items and a $160 billion market.
As per the World Bank Logistics Index of 2018, India is ranked 44th in logistics costs.
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