India is on a mission to become one of the world’s top 25 international logistics hubs, a significant step towards its ambition of becoming a developed economy. Currently, India’s logistics cost accounts for 13-14 percent of its GDP, and the objective is to reduce it to single digits by 2030.
The endeavour to bring down logistics costs to single digits and the role of the National Logistics Policy and Gati Shakti National Master Plan in achieving this goal have come into sharp focus.
India’s logistics sector holds a pivotal place in the nation’s economic landscape, and the endeavour to streamline it is driven by the aim of enhancing its global competitiveness. Currently ranked 38th on the World Bank’s Logistics Performance Index (LPI), India aspires to secure a place in the top 25.
The benefits of a well-organised logistics system are far-reaching, and several sectors stand to gain from it. Key sectors, such as manufacturing, agriculture and e-commerce, would benefit significantly from an efficient logistics network. The successful implementation of the NLP is seen as a crucial factor in achieving these outcomes, with investments expected to yield results over the next few years.
A noteworthy achievement in India’s logistics journey is the reduced turnaround time at the Jawaharlal Nehru Port, which has been trimmed down to a mere 0.9 days, surpassing Singapore in this aspect.
