DPIIT to set up task force for formulating logistics cost framework
The commerce and industry ministry has said that a task force will be set up by the Department for Promotion of Industry and Internal Trade (DPIIT) for formulating a framework to determine logistics costs in the country in a time-bound fashion. The task force members would include representatives from NITI Aayog, Ministry of Statistics and Programme Implementation (MOSPI), National Council of Applied Economic Research (NCAER), academic experts and other stakeholders.
Further, Commerce and Industry Minister Piyush Goyal said that e-commerce, smarter free trade agreements, adopting international quality standards, good manufacturing practices, leveraging on successful startups ecosystem, drone technology, artificial intelligence and centre-state partnerships will work towards catalyzing India's development.
Meanwhile, 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 logistics cost.
