TUTICORIN, 08/03/2013: A North Indian girl promoting automotive glass material and sticker at VVD Junction, in Tuticorin, Tamilnadu.
Photo: N. Rajesh
| Photo Credit: RAJESH N
India’s logistics costs had diminished from a variety of 8.6% to 9.8% in 2013-14 to 7.8%-8.9% of GDP in 2021-22, as per a report by the National Council for Applied Economic Research (NCAER) commissioned by the Commerce and Industry Ministry.
The estimate, which relied on National Accounts Statistics for knowledge such because the output of transport companies, storage and warehousing sectors, dispels earlier estimates that pegged the nation’s logistics costs as excessive as 14% of GDP. These price estimates shall be refined and tracked frequently in the approaching years.
“We intend to make this exercise more robust going forward with a primary survey to assess actual time and costs experienced by industry,” mentioned Rajesh Kumar Singh, secretary in the Department for Promotion of Industry and Internal Trade.
“This range is a ballpark estimate and must not be interpreted as the contribution of logistics to GDP in terms of income and job creation, but as an absolute cost measure used for cross-country comparison,” mentioned NCAER professor Poonam Munjal.
