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First announced in 2020, NLP is important as the current high logistics costs affect the competitiveness of household goods in the international market. The emphasis is on bringing down the country’s logistics cost from the current level of 13 to 14 percent of the national GDP. At present, the Indian logistics sector is valued at over USD 200 billion and is very complex.
This includes over 20 government agencies, 40 PGAs, 37 Export Promotion Councils, 500 certifications, over 10,000 commodities and 200 shipping agencies. It also accounts for 36 logistics services, 129 inland container depots, 168 container freight stations and 50 IT ecosystems, banks and insurance agencies.
Commerce and Industry Minister, Piyush Goyal
Overall, the Indian logistics sector provides livelihoods to 200 million people and optimizing the industry is estimated to facilitate a 10 per cent reduction in indirect logistics costs which in turn will increase exports by 5 to 8 per cent.
Speaking at the 62nd SIAM Annual Conference, Mr. Vinod Agarwal, Vice President, SIAM said, “India is currently the fourth largest automaker after China. To develop related industries it is important that we build our national infrastructure in which road infrastructure is of prime importance. Better road infrastructure will help reduce logistics cost and boost exports.
Far Left – Mr. Vinod Agarwal, Vice President, SIAM with other delegates at the 62nd SIAM Annual Conference.
The low cost and smooth movement of goods can also attract foreign private investment into the country. This policy will also become another weapon to develop the country’s automotive sector. speed power and the National Single Window Scheme (nsws) door.
With inputs from PTI