Prime Minister Narendra Modi is scheduled to launch the National Logistic Policy on his Birthday on September 17 at Vigyan Bhawan. The logistic policy is aimed at bringing down the logistic costs and improving the competitiveness of domestic goods in the global market.
India spends around 13 to 14 per cent of gross domestic product (GDP) on logistics costs. While countries like Germany and Japan, which are known for their developed logistics infrastructure and systems, spend just around eight to nine per cent of the GDP on logistics costs. The logistic sector has more than 20 government agencies, 40 Partner Government Agencies (PGA), 37 export promotion councils, 500 certifications, over 10,000 commodities and a $160-billion market.
According to the World Bank Logistics Index of 2018, India is ranked 44th in logistics costs, far behind countries like the United States and China which are at the 14th and 26th positions, respectively.