The Indian logistics sector, while booming, remains unorganised with various components operating as silos. To address this, the government has proposed the National Logistics Policy, which aims to establish an integrated, cost-efficient and effective logistics network using the best technological tools and skilled personnel. As part of this policy, the proposed National Logistics Law seeks to bring organised and disorganised silos of the sector under one umbrella through a unified legal framework.
The law will support the One Nation, One Market objective and create a flexible regulatory environment, which will aid in harnessing the sector’s potential in domestic and international markets. With a distinct logistics account number assigned to each shipment, the law will promote digitisation, reduce pilferage and ensure smooth movement of goods.
The policy aims to reduce logistics cost to less than 10 per cent of the GDP and build an ecosystem and regulatory framework. Effective implementation of the logistics policy will provide an impetus for growth for exports and public-private partnerships and improve India’s ranking in the Logistics Performance Index and Ease of Doing Business globally.
By establishing a unified legal framework for the sector, the National Logistics Law can streamline operations and introduce standardisation and infrastructure development, ensuring the Indian logistics sector operates as a modernised entity.
