MoU for Development of Framework & Assessment of Logistics Cost in India

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Source-This post on MoU for Development of Framework & Assessment of Logistics Cost in India has been created based on the article “DPIIT signs MoU with NCAER for Development of Framework & Assessment of Logistics Cost in India” published in “PIB” on 5 July 2024.

Why in the news?

The Department for Promotion of Industry and Internal Trade (DPIIT), the Ministry of Commerce & Industry, and the National Council of Applied Economic Research (NCAER) signed a Memorandum of Understanding (MoU) in New Delhi to develop a framework and assess logistics costs in India.

About MoU with NCAER for Development of Framework & Assessment of Logistics Cost in India

1. About: The Department for Promotion of Industry and Internal Trade (DPIIT) and the National Council of Applied Economic Research (NCAER) signed a Memorandum of Understanding (MoU) in New Delhi.

2. Aim: The MoU aims to develop a framework and assess logistics costs in India.

3. Objectives of the MoU

i) Developing a Detailed Framework: Create a detailed framework for assessing logistics costs in India.

ii) Comprehensive Study: Conduct a comprehensive study for assessing logistics costs for the year 2023-24.

iii) Assessment of Differentials: Evaluate differentials in logistics costs across various routes, modes, products, types of cargo, and service operations.

iv) Identifying Major Determinants: Identify key factors that influence logistics costs in different sectors.

About National Logistics Policy (NLP)

1.  The Government of India launched the National Logistics Policy (NLP) on 17th September 2022.

2.  Objective:  To reduce logistics costs as a percentage of GDP.

3. Reports: DPIIT previously launched a report titled “Logistics Cost in India: Assessment and Long-Term Framework” in December 2023 which was prepared by NCAER.

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