Latest News | Logistics Policy: National Trade Facilitation Action Plan to Be Developed to Address Issues of EXIM Logistics

New Delhi, Sep 29 (PTI) A national trade facilitation action plan will be developed to look at issues pertaining to export and import logistics, the National Logistics Policy (NLP) has proposed.

The policy was launched on September 17 with a target to cut transportation cost and promote seamless movement of goods across the country. The Department for Promotion of Industry and Internal Trade (DPIIT) notified the policy on September 28.

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EXIM (export-import) logistics is one of the eight key action areas under a comprehensive logistics action plan through which the NLP will be implemented.

The other key action areas include integrated digital logistics systems; standardisation of physical assets and benchmarking service quality standards; logistics human resources development and capacity building; state engagement, and facilitation of development of logistics parks.

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The main problems in the EXIM logistics include infrastructure challenges, incomplete digitalisation and procedural inefficiencies, and lack of effective coordination to expedite development of strategic trade corridors.

To address the EXIM logistics issues, the policy said the Logistics Division of the Ministry of Commerce and Industry will identify critical infrastructure related issues through stakeholders' consultations.

"National Trade Facilitation Action Plan (NTFAP), including mapping of issues to concerned line ministries / departments will be developed," it said.

The National Logistics Policy targets to reduce the cost of logistics in India to be comparable to global benchmarks by 2030; improve the Logistics Performance Index ranking (endeavour is to be among top 25 countries by 2030); and create data driven decision support mechanism for an efficient logistics ecosystem.

It also said the DPIIT in coordination with the relevant standard setting agencies like Bureau of Indian Standards and TRAI will develop standards for physical assets like containers, trucks, and warehouses.

"The necessary standards to be collated and compiled in 6 months," it added.

Further, under implementation of the policy, the DPIIT's notification said financial and fiscal incentives, by way of review of GST rates, and regulatory interventions to promote multi-modal transportation, optimal modal mix, higher throughputs and energy efficiency through adoption of technologies would be developed through the relevant line ministries.

(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)