PM launches National Logistics Policy

Source: The post is based on the article “PM launches National Logistics Policy” published in PIB on 18th September 2022.

What is the News?

The Prime Minister has launched the National Logistics Policy(NLP). 

What is Logistics?

Logistics encompasses planning, coordinating, storing, and moving resources —people, raw materials, inventory, equipment, etc from one location to another, from the production points to consumption, distribution, or other production points.

What is the aim of the National Logistics Policy(NLP)?

Reduce the cost of logistics from 14-18% of GDP to global best practices of 8% by 2030. Countries like the US, South Korea, Singapore, and certain European nations have such a low logistics cost-to-GDP ratio.

Improve the country’s Logistics Performance Index (LPI) ranking to be among top 25 countries by 2030.

Create data-driven decision support systems (DSS) to enable an efficient logistics ecosystem.

Key Building Blocks of the policy

Unified Logistics Interface Platform(ULIP): It aims to collapse all logistics and transport sector digital services into a single portal, thereby freeing manufacturers and exporters from the present tyranny of long and cumbersome processes.

Ease of Logistics Services (E-Logs): It aims to allow the industry to directly take up operational issues with government agencies for speedy resolution.

Comprehensive Logistics Action Plan: It comprises integrated digital logistics systems, standardization of physical assets, benchmarking service standards, human resource development, capacity building, development of logistics parks etc.