New Delhi, Mar 2 (PTI) The department for promotion of industry and internal trade (DPIIT) is starting an exercise to prepare a framework for determining logistics cost in the country, an official said on Thursday.

For this, the department will be holding a workshop on the subject, where experts, academicians, professors, and statisticians across the globe will participate on March 20 here besides government officials.

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"We hope to firm up an index to gauge the country's logistics cost in a year. It will be an annual affair after that.We are organising an international workshop on logistics cost framework," the official said.

Many international players from countries like Japan, Korea and Germany will attend.

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"We will deliberate on various modules and choose the framework that best suits us," the official added.

At present, the government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the country's GDP.

The government has rolled out a national logistics policy and PM Gati Shakti initiative to boost competitiveness of industry and cut the logistics cost.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)