New Delhi [India], Feb 1 (ANI): A National Logistics Policy will be released soon and it will clarify the roles of the Union Government, State Governments and key regulators said Finance Minister Nirmala Sitharaman said on Saturday in her budget speech.
The policy will create a single-window e-logistics market and focus on the generation of employment, skills and make MSMEs competitive.
India's logistics sector is highly defragmented and the aim is to reduce the logistics cost from the present 14 per cent of GDP to less than 10 per cent by 2022.
"India's logistics sector is very complex with more than 20 government agencies, 40 PGAs, 37 export promotion councils, 500 certifications, 10000 commodities, 160 billion market size. It also involves 12 million employment base, 200 shipping agencies, 36 logistics services, 129 ICDs, 168 CFSs, 50 IT ecosystems and banks and insurance agencies. Further, 81 authorities and 500 certificates are required for EXIM," an official release said.
It said the logistics sector provides livelihood to more than 22 million people and improving the sector will facilitate 10 per cent decrease in indirect logistics cost leading to the growth of 5 to 8 per cent in exports.
Sitharaman also said that 100 more airports shall be established under the UDAN scheme and 1200 aeroplanes shall be added. (ANI)