Key Points about National Logistics Policy
Key Points about National Logistics Policy (NLP)
This National Logistics policy reduces the logistics cost in the country for improving the competitiveness of Indian goods both in domestic as well as export markets.
Now, this reduced logistics cost will improve efficiency across various sectors of the economy and encourage value addition and enterprise.
PM Modi said, “National Logistics Policy has immense potential for development of infrastructure, expansion of business and increasing employment opportunities.”
4 Major Steps of NLP:
The policy will include four major steps in order to bring Indian logistics on par with the global benchmark.
These four steps include --
● Integration of Digital Systems (IDS),
● Starting a Unified Logistics interface Platform (ULIP),
● Improving Ease of Logistics (ELOG),and ● Setting up a System Improvement Group (SIG).
Benefits of NLP:
■ The policy aims to reduce transportation costs from 6% of GDP to 4%.
■ Similarly, warehousing costs will be brought down from 3.5% of GDP to 2.5%.
■ Inventory costs will be reduced from 2.5 % of GDP to 1% and order processing/admin costs will be cut from 1% of GDP to 0.5%.
The Prime Minister said “the echo of Make in India and India becoming self-reliant is everywhere. India is setting big export targets and is also fulfilling them. The notion that India is emerging as a manufacturing hub is stabilizing in the mind of the world. If we study the PLI scheme we will find that the world has accepted it.”
Here are the Key statements From PM Modi's Speech:
● “Unified Logistics Interface Platform- ULIP will bring all the digital services related with the transportation sector on a single portal”
● “The notion that India is emerging as a manufacturing hub is stabilizing in the mind of the world”
● “Policy is just a beginning, policy plus performance is equal to progress”
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