Indian Economy News

Union Cabinet has approved National Logistics Policy: Mr. Anurag Thakur

  • IBEF
  • September 22, 2022

The National Logistics Policy, which aims to lower transportation costs and boost the sector's overall performance, was adopted by the Cabinet on Wednesday.

The strategy, which Prime Minister Mr. Narendra Modi launched last week, aims to reduce transportation costs by encouraging seamless movement of commodities across the nation. The Prime Minister had stated that "from 13–14% (of the GDP), we should all seek to bring the logistics cost to single-digit as soon as possible," when introducing the strategy.

According to a formal statement, the policy aims to lower logistics costs in India to levels comparable to international benchmarks by 2030, raise the country's position in the Logistics Performance Index from 44th in 2018 and develop a data-driven decision support system for a productive logistics ecosystem.

Mr. Anurag Thakur, Minister of Information and Broadcasting, and Youth Affairs and Sports, briefed the media on the policy and stated that the goal was to bring India among the top 25 nations by 2030.

The policy will make use of the existing institutional framework—the Empowered Group of Secretaries (EGoS) established in accordance with the PM Gati Shakti national master plan—to monitor its implementation, it was stated.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.