On Saturday, Prime Minister Narendra Modi launched the new National Logistics Policy. He said that this policy is going to solve the challenges of the transportation sector, increase the speed of last mile delivery and save money for the companies/entrepreneurs. This policy is supposed to bring down the logistics cost of businesses to single digits from the current 13-14 per cent.
PM Modi said that nowadays the overall capacity of Indian ports has improved considerably and currently the average ‘turn-around time’ of ships has returned down from 44 hours to 26 hours. He also said that the Sagarmala project connecting the ports and dedicated freight corridors has started increasing the infrastructure development works and therefore the logistics connectivity.
“India has now been considered as the 5th largest economy within the world and it is rising as a manufacturing hub” said Modi. Further he said that the Production Linked Incentive Scheme (PLI) started by the government to push domestic manufacturing is also accepted by the globe.
“The technology is utilised by the government to build up the logistics sector and the system of assessment has been started in customs duty without going in front of the official” said Modi. Simultaneously, e-way bill and FASTag have also brought relief in the logistics sector.
Modi said the National Logistics Policy would facilitate modernising the entire system in reference to strengthening its support system to expand the reach of Indian products in the markets all across the world.
By referring to the drone policy, the Prime Minister has claimed that this would improve the logistics sector. He said that this policy, designed to help accelerate economic growth after two years of the Corona epidemic, will streamline regulations, remove bottlenecks in the supply chain and provide a framework to reduce logistics costs and the fuel costs.
