Prime Minister Narendra Modi has launched the National Logistics Policy (NLP) at Vigyan Bhawan, New Delhi. The objective of this policy is to help in smooth movement of goods and increase the competition in the industry.
Prime Minister Narendra Modi has launched the National Logistics Policy (NLP) at Vigyan Bhawan, New Delhi.
Prime Minister Narendra Modi on Saturday launched the National Logistics Policy (NLP) at Vigyan Bhawan in New Delhi. The objective of this policy is to help in smooth movement of goods and increase the competition in the industry. The scheme will focus on areas like re-engineering, digitization and multi-modal transport.
The objective of this scheme is also to reduce the cost of logistics. The statement further said that it is very important to reduce the cost of logistics in India, so as to improve the competitiveness of Indian goods in the domestic market along with exports.
Target to accelerate growth after pandemic
With the help of the policy, fast growth will also be supported after two years of the epidemic crisis. Due to this there will be other bottlenecks on the supply front. Under the new policy, the rules will also become easier. Apart from this, it will also help in reducing the cost of logistics and reduce oil prices.
With this policy, the logistics cost of businesses is expected to come down to single digits from the current 13-14 per cent. Prime Minister Modi said that today the total capacity of Indian ports has increased significantly and the average turn-around time of ships has come down from 44 hours to 26 hours now. He said that the Sagarmala project connecting the ports and dedicated freight corridors has started improving the systematic work of logistic connectivity and infrastructure development.
India emerging as manufacturing hub: Modi
Modi said that India has now become the fifth largest economy in the world and it is emerging as a manufacturing hub. He said that the world has accepted the Production Linked Incentive Scheme (PLI) launched by the government to promote domestic manufacturing. He said that the government is using technology to strengthen the logistics sector and the system of assessment has been started in customs without going in front of the official. At the same time, e-way bill and FASTag are also increasing the effectiveness in the logistics sector.
Referring to the strengthening of its support mechanism to enable penetration of Indian products in the worldwide markets, the Prime Minister said that the National Logistics Policy will help modernize the support system.