National Logistics Policy announced - PM asserts it as a key step towards

New Delhi: On Saturday, Prime Minister Narendra Modi announced the ‘National Logistics Policy’, designed to reduce the logistics cost in the country by 13 to 14 per cent and bring this cost to single digits. Prime Minister Modi has said this is essential to making India a developed country.

A considerable investment is being made in India and various industries are planning to expand. Global experts also believe that India is moving towards becoming a superpower. Prime Minister Modi also said that Indian capabilities had impressed him. The Indian government has been trying to reduce the cost of logistics meaning transportation, for some time now. Various decisions are being taken in this regard. The Prime Minister said that developing container terminals and their capacities, efforts to increase connectivity between ports under the Sagarmala project, and infrastructure development under Gati Shakti Yojana will make the logistics sector more efficient.

India has become the fifth largest economy in the world. Also, India is emerging as a global manufacturing hub and the world has accepted the ‘Production Link Incentives’ (PLI) introduced to promote the local manufacturing sector. But the logistics cost in India is much more than in developed countries like China, the United States and Europe. This policy aims to reduce this cost which is the biggest barrier to industrial growth and investment in India. A robust system will be set up under the new logistics policy.

On this occasion, The Prime Minister said, ‘For this, 30 agencies under various ministries will be integrated and digitized. Connectivity will be enhanced in the country. This will save both cost and time spent on freight movement.’