Big news for Indian auto sector! PM Modi to launch NLP on September 17
The National Logistics Policy (NLP) will be unveiled on September 17 by Prime Minister Narendra Modi in an effort to support India’s logistics sector.
According to the policy, smooth cross-country transportation of commodities would be encouraged, and growth will be expedited. Processes, re-engineering, digitalization, and multi-modal transport will all be areas of focus. On September 13, while speaking to the Board of Trade, Commerce and Industry Minister Piyush Goyal made the news.
The NLP, which was first announced in 2020, has gained importance as a result of how the current high logistics costs affect the competitiveness of domestic goods in the global market. The focus is on lowering the nation’s logistics costs from their present range of 13 to 14 percent of the GDP.
The Indian logistics industry is currently valued at over USD 200 billion and is quite complicated. More than 20 governmental organisations, 40 PGAs, 37 export promotion councils, 500 certificates, more than 10,000 items, and 200 shipping companies are involved. In addition, it accounts for 50 IT ecosystems, banks, and insurance companies, 36 logistics services, 129 inland container depots, and 168 container freight stations.
200 million people depend on the logistics business in India as a whole for their livelihood, and industry optimization is expected to enable a 10% reduction in indirect logistics costs, which would then result in an increase of 5 to 8% in exports. India is currently the fourth-largest automaker after China, according to Mr. Vinod Aggarwal, Vice President of SIAM, who was speaking at the 62nd SIAM Annual Convention. We must develop our national infrastructure, with road infrastructure playing a key role, if we want linked industries to expand. A better road network will lower logistical costs and increase exports.
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