The National Logistics Policy was approved in a cabinet meeting chaired by Prime Minister Narendra Modi, who had last week unveiled the policy.
The Union cabinet on Wednesday approved the National Logistics Policy, CNBC TV18 reported quoting sources. The National Logistics Policy was approved in a cabinet meeting chaired by Prime Minister Narendra Modi, who had last week unveiled the policy. Modi at the time of the launch had said that the reform addresses challenges related to the transport sector, speeds up last-mile delivery and saves money for businesses.
The National Logistics Policy seeks to address challenges facing the transport sector and bring down the logistics cost of businesses from 13-14 per cent to a single digit. It was unveiled on Saturday, while the Cabinet took minimum time to approve of the reform.
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In an address at Vigyan Bhawan, New Delhi, the Prime Minister said the policy is a comprehensive effort to enhance the efficiency of the logistics ecosystem as India is fulfilling big export targets and emerging as a manufacturing hub. Hailing India’s emergence as the world’s fifth largest economy, he noted that the country is changing and said, “the National Logistics Policy will bring new energy in all sectors.”
“For the country to become globally competent, there is a need to charge up efforts, efficiency and improve productivity,” he said.
The National Logistics Policy would also help bring down the cost to 7.5 per cent in the coming years. Elements of the policy like Unified Logistics Interface Platform (ULIP) and Ease of logistics Services (E Logs) would help exporters and industry in enhancing logistic efficiency.
The ULIP will bring all the digital services related to the transportation sector into a single portal, freeing the exporters from a host of very long and cumbersome processes. Similarly, E-Logs portal has also been started, through which industry can directly take up any such matters which are causing problems in their operations and performance with the government agencies.
A complete system has also been put in place for the speedy resolution of such cases, the prime minister said. The government, he said, is using technology to strengthen the logistics sector. Faceless assessment has started in customs and e-way bills and FASTag are bringing efficiency to the logistics sector.
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Commenting on the latest development, Mradul K, vice president of Global Sales and Strategy at LogiNext, said, “The launch of a new National Logistics Policy by our honorable Prime Minister Shri Narendra Modi, will set a new standard for a modern, digitally-driven logistics sector. The Unified Logistics Interface Platform is a welcome move, which will bring in visibility in tracking, modern warehousing, and digitalisation of operations which are currently the need of the hour. The measures- IDS — Integration of Digital System, ULIP — Unified Logistics interface Platform, ELOG — Ease of Logistics, and SIG — System Improvement Group, will help drive resiliency and sustainability in building a trusted logistics ecosystem that will power inclusive growth.”
