Prim𓆉e Minister Narendra Modi on Saturday unveiled the National Logistics Policy (NLP) that seeks to cutไ transportation cost and boost trade.
The NLP seeks to bring down the logistic🤪s cost of businesses from 13-14 per cent to a single digit. It further seeks to boost the last mile connectivity and help businesses save time and money.
Modi said that 🐬while the new policy addresses challenges of the logistics sector, it together with the infrastructure augmentation plan PM GatiShakti will address gaps. He also said that for ▨Indian products to capture world markets, the country has to strengthen its support system.
"National Logistics Policy helps in making the support system modern," said Modi, adding that global experts are saying India is emerging as a democratic superpower and they are i🐟mpressed by the extraordinary talent ecosystem of the country.
"Experts are appreciating India's determination and progress," said Modi, adding that the government is using technology to streng🌜t🌟hen the logistics sector.
Talking about the drone policy, Modi said drones will improve the logistics sector. The government, he said, is using technology to strengthen the logistics sector. Faceless assessment has started in customs and e-way bills and FASTag are bringing efficiency to the logistiಞcs sector.
He said the capacity of ❀ports﷽ has been increased and the container vessel turnaround time has been cut to 26 hours from 44 hours previously.
The Saga📖rmala project to connect ports and dedicated freight corridors has started to improve logistics connectivity and systematic infrastructure development work, he said.
Modi said India is now t♎he world's fifth largest economy and is emerging as a manufacturing hub.
The world has accepted the production-linked incentiveಞ (PLI) scheme announced by the government for boosting domestic manufacturing, he said.
Seeking to support faster growth after two pandemic-ridden years, the policy will streamline rules and address supply-side constraints a🐭s well as provide a roadmap to reduce f൩uel costs and lower logistics costs.
The Union government has been working on the National Logistics Policy for three years. The commerce ministry released a draft l♌ogistics policy for consultation in 2019, but it was delayed by the Covid-19 pandemic. The National Logistics Policy was once again a🃏nnounced by Finance Minister Nirmala Sitharaman in the Budget for 2022-23.
The draft policy provides for the government creating a single point of reference for all logistics and trade facilitation matters, reducing costs for the log📖istics sector to 10 per cent in five years. The logistics sector is e🌱stimated at 13-14 per cent of GDP.
(With PTI inputs)
