Highlighting the logistic sector’s enormous potential for improvement of economic growth of the country, the Commerce Secretary Rita Teaotia has said that the Commerce Ministry is working on several measures such as a short and medium term integrated plan and an integrated digital platform, to promote growth of the logistics sector.
Teaotia also listed steps taken by Commerce Ministry to enhance logistics efficiency of India such as by getting infrastructure status to key logistics activities, working on 80% Direct Port Delivery (DPD) at key ports, increased role of Risk Management System (RMS) for border clearances & rolling out of the integrated logistics portal shortly.
Commerce Secretary noted that ongoing measures will lead to reduction in transaction costs and time of traders. She has expressed the need to bring down India’s logistics cost to 10% from 14% of the GDP, as it is far higher as compared to other countries. Besides, she said that all economic activities including exports and manufacturing are linked with logistics and its efficiencies would help improve economic development.