India Is Finalising The New Policy For Logistics Sector

India is working on finalising the policy to set up new logistics plan in the country, commerce and industry minister Suresh Prabhu revealed on Friday. The plan is expected to boost government’s mission to come out with the most cost-effective method to transport goods till 2035.

As India jumped 19 places in the Global Logistics Performance Index – from52 in 2014 to 35 in 2016, the policy may as well open-up several opportunities for tech-enabled startups in the sector to provide seamless movement of goods across the country.

The policy which envisages providing a comprehensive plan, according to Prabhu, “will fulfill immediate needs and then for future requirements.” He added, “The idea is to prepare a proper integrated logistics plan.”

The new logistics division within the department of commerce is preparing the national integrated plan, with an aim to identify bottlenecks and gaps prevailing in the sector. The minister was speaking at the 5th annual edition of The Economic Times supply chain management summit in Delhi.

“A proper supply chain which is efficiently managed is required for India since the country is poised to become a $5 Tn economy. The government is already planning to put in place a common platform to ease the transportation of goods,” Prabhu said.

Economic Survey 2017-18