CIM reviews measures to reduce logistics costs to 9%
Union Minister of Commerce & Industry, Shri Piyush Goyal, spoke about having better coordination between the Ministries of Commerce & Industry, Road, Civil Aviation and Railways while reviewing the draft National Logistics Policy. This is intended to achieve the objective of reducing logistics costs from 14% to 9%. High logistics costs influences the competitiveness of domestic goods in international markets. He also said that a central scheme for cold chains across the country, especially for fruits, vegetables and perishables may be made a part of the draft so as to improve the efficiency and reduce losses in agriculture produce of farmers.
The logistics policy is aimed at boosting India’s trade competitiveness, creating more jobs, improving India’s performance in global rankings and paving the way for the country to become a logistics hub.