While releasing the Logistics Policy, the Prime Minister had said that its objective is to bring down the logistics cost to the unit digit from the current level of 13-14 percent of the Gross Domestic Product (GDP).
Cabinet approval for logistics policy can be received today
The Union Cabinet is likely to approve the National Logistics Policy in its meeting on Wednesday. Sources said on Tuesday that the Union Cabinet is going to meet on Wednesday in which the National Logistics Policy can be put up for approval. Prime Minister Narendra Modi has presented the outline of this policy on September 17 itself. Through this, a target has been set to cut costs associated with transportation by promoting seamless movement of products across the country.
Target to reduce logistics cost by 10%
While releasing the Logistics Policy, the Prime Minister had said that its objective is to bring down the logistics cost to the unit digit from the current level of 13-14 percent of the Gross Domestic Product (GDP). Under the Logistics Policy, it is proposed to develop a Unified Logistics Interface Platform (ULIP) which will act as a facilitator of various government and private agencies. The policy will help in reducing the cost by 7.5 per cent in the coming years. Policy elements such as Unified Logistics Interface Platform (ULIP) and Ease of Logistics Services (eLogs) will help exporters and industry to enhance logistics efficiency. ULIPs will bring all the digital services related to the transport sector in one portal and will free the exporters from the very lengthy and cumbersome processes. Similarly, e-logs portal has also been launched, through which industries can directly raise any issues which are causing problems in their operation and performance with the government agencies.
Ease of doing business will get a boost
At the same time, after the announcement of the policy, Union Minister Nitin Gadkari said that this policy will completely change India’s logistics sector, will promote smooth movement of goods and reduce carbon emissions. At the same time, the industry also welcomed this policy saying that with this new National Logistics Policy, customers will be benefited by improving efficiency and reducing cost and they will get products at lower prices. At the same time, Aviation Minister Jyotiraditya Scindia said that we need to bring down the logistic cost to single digits and change the paradigm regarding reforms.
Source: www.tv9hindi.com”