India jumps 6 places to Rank 38 in World Banks Logistics Performance Index 2023
By India Blooms News Service Apr 27, 2023
New Delhi/IBNS: India has jumped 6 places to rank 38 out of 139 countries in the 7th edition of Logistics Performance Index (LPI 2023) of the World Bank.
On 4 out of 6 LPI indicators India has seen remarkable improvement on the back of various initiatives being implemented over the past few years, the Ministry of Commerce and Industry said in a statement.
This is a strong indicator of Indias global positioning, with this development being powered by our governments laser focus on reforms for improving logistics infrastructure, said the ministry
The jump in the ranking comes after the Centre launched the PM GatiShakti National Master Plan (PMGS-NMP) in October 2021 and the National Logistics Policy (NLP) in September 2022.
The government also invested in trade-related soft and hard infrastructure connecting port gateways on both coasts to the economic zones in hinterland.
Technology has been a critical component of this effort, with implementation under a public-private partnership of a supply chain visibility platform, which has contributed to remarkable reductions of delays.
NICDCs Logistics Data Bank project applies radio frequency identification (RFID) tags to containers and offers consignees end-to-end tracking of their supply chain.
Its implementation started in 2016 on the Western part of India and was scaled up to Pan India level in 2020. With such initiatives of transparency, visibility, and ease of doing business, there has been significant improvement in cross-border trade facilitation.
Further other initiatives like Sagarmala which aims to improve connectivity to ports and reduce cargo dwell time and Bharatmala which focuses on improving road connectivity of major corridors have played a pivotal role in improving Indias logistics efficiency apart from a host of other initiatives like Logistics Data Bank project and LEADS (Logistics Ease Across Different States) study.