PM Narendra Modi launched PM Gati Shakti initiative, a nationwide grasp plan for multimodal connectivity, in October 2021 to scale back logistics value and increase the financial system by 2024-25. (Image: PTI/File)
The National Logistics Policy was launched final 12 months to make sure fast last-mile supply, finish transport-related challenges, save money and time of producers, and stop agricultural waste
The announcement of the PM Gati Shakti initiative in 2021 appears to be coming to fruition as India climbed six locations within the World Bank’s Logistic Performance Index 2023 to rank 38 out of 139 nations. The nation was ranked 44 in 2018 whilst its efficiency drastically improved from 2014, when it was at 54 within the index.
Prime Minister Narendra Modi had launched the PM Gati Shakti initiative, a nationwide grasp plan for multimodal connectivity, in October 2021 to scale back logistics value and increase the financial system by 2024-25. Last 12 months, he launched the National Logistics Policy (NLP) to make sure fast last-mile supply, finish transport-related challenges, save money and time of producers, stop wastage of agricultural merchandise and guarantee a desired velocity within the logistics sector.
Here are important findings from the report:
- India’s infrastructure moved 5 locations to 47 in 2023 from 52 in 2018. India ranked twenty second for worldwide shipments from 44 in 2018 and moved 4 locations as much as 48 in logistics competence and equality.
- In timelines, India jumped 17 locations within the rankings, whereas it moved three locations up in monitoring and tracing.
- Two main elements for the nation’s soar within the index might be modernisation and digitalisation, which the report quotes as a purpose for rising economies like India to leapfrog superior nations.
“The government of India has invested in trade-related soft and hard infrastructure connecting port gateways on both coasts to the economic poles in the hinterland,” the report acknowledged.
“Since 2015, the Government of India has invested in trade-related soft and hard infrastructure connecting port gateways on both coasts to the economic poles in the hinterland. Technology has been a critical component of this effort, with implementation under a public-private partnership of a supply chain visibility platform, which contributed to remarkable reductions of delays. NICDC Logistics Data Services Limited applies radio frequency identification tags to containers and offers consignees end-to-end tracking of their supply chain,” the report added.
According to the report, the typical dwell time for containers between May and October 2022 was three days for India and Singapore, significantly better than a number of the industrialised nations.
The report mentioned: “The emerging economies with the shortest delays have gone beyond these packages and have implemented bold tracking and tracing solutions. India’s very low dwell time (2.6 days) is one example.”
The report mentioned dwell time is the time a vessel spends at a selected port or terminal. It may discuss with the period of time a container or cargo spends at a port or terminal earlier than being loaded onto a vessel or after being unloaded.
The Logistics Performance Index (LPI) covers 139 nations. It measures the convenience of creating dependable provide chain connections and structural elements that make it attainable, reminiscent of the standard of logistics companies, commerce and transport-related infrastructure, in addition to border controls.
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