Commenting on this, Mr. Mahendra Shah, Chairman and Managing Director, V-Trans (India) Ltd said, “India’s logistics and transportation sector is one of the important pillars of our economy. The logistics Industry in India is waiting eagerly for the new national logistics policy to be released by our Honorable PM.
Sep 17, 2022, will go down in history as one of the most important days for the Indian Logistics sector. The Policy will provide a major boost to the sector, with an aim of strengthening and streamlining India’s Logistics sector. The expected focus areas in the policy include process re-engineering, digitization, multi-modal transport, etc. The move is significant because high logistics cost brings down the competitiveness of domestic goods in the international market. The difference between the logistic cost to GDP, in India at 14% and in the developed world at 8%, is very significant.
With this implementation, there will be further boost to the development in an integrated logistics ecosystem, reduction in time, wastage & cost, and ensuring sustainability. It will further strengthen the warehousing sector by improving the quality of storage infrastructure, including specialized warehouses, and increasing warehousing capacity by identifying areas of standardization and optimization. The Indian logistics market is estimated at over $200 billion. The sector provides livelihood to more than twenty-two million people. The national logistics policy will ensure great synergy between various Central government departments, agencies, and private players. In coordination with the states, it will also ensure the issues that inflate logistics costs are swiftly resolved.