National Logistics Policy 2022
September 23 , 2022
- The Government has launched a National Logistics Policy (NLP) 2022.
- It aims to achieve ‘quick last-mile delivery', end transport-related challenges.
- The term "logistics" describes the total process of controlling the acquisition, storage, and delivery of resources to their intended location.
- The policy focuses on key areas such as process re-engineering, digitisation, and multi-modal transport.
- Logistics costs have to be cut by half to be near global benchmarks by 2030 by reducing the cost of logistics from 14-18% of GDP.
- The global best practices are 8% of GDP.
- Countries like the US, South Korea, Singapore, and certain European nations have such a low logistics cost-to-GDP ratio.
- The current cost is 16% of GDP.
- India aims to be among the top 10 in the LPI (Logistics Performance Index) by 2030.
- In 2018, India was ranked 44th in the LPI.