Union cabinet approves National Logistics Policy.

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The Union Cabinet, chaired by Prime Minister, Shri Narendra Modi, on 21st September 2022, has approved the National Logistics Policy. The Policy lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional and comprehensive policy framework for the logistics sector. The policy complements the PM GatiShakti National Master Plan. While PM GatiShakti National Master Plan is aimed at integrated infrastructure development, the National Logistics Policy is envisaged to bring efficiency in logistics services, and human resources through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies.

The Policy sets targets and includes a detailed action plan to achieve them. The targets are to reduce cost of logistics in India to be comparable to global benchmarks by 2030,improve the Logistics Performance Index ranking, to be among top 25 countries by 2030, and create data driven decision support mechanism for an efficient logistics ecosystem.

This policy paves way for reduction in logistics cost in the country. Focus will be on enabling adequate development of warehouses with optimal spatial planning, promotion of standards, digitization and automation across the logistics value chain and better track and trace mechanisms.

This policy supports enhancing competitiveness of Micro, Small and Medium Enterprises, and other sectors such as agriculture and allied sectors, fast moving consumer goods and electronics. With greater predictability, transparency and reliability, wastages in supply chain and need for huge inventory will reduce.

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