01-01-1970 12:00 AM | Source: Accord Fintech
Initiatives to improve logistics efficiency help India climb 6 places on World Bank's LPI:Government
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The commerce and industry ministry has said that various initiatives taken by the government to improve its logistics efficiency has helped India climb six places on the recently released World Bank's Logistics Performance Index (LPI) 2023. India has climbed six places on the LPI, now ranking 38th in the 139 countries index, as a result of significant investments in both soft and hard infrastructure as well as technology. India was ranked 44th on the index in 2018 and has now climbed to 38th in the 2023 listing. India's performance has drastically improved from 2014, when it was ranked 54th on the LPI.

The ministry said India has been taking numerous initiatives since 2015 to improve its logistics efficiency. The World Bank has acknowledged India's efforts towards increasing logistics efficiency. On four out of six LPI indicators, India has seen a remarkable improvement on the back of various initiatives being implemented over the past few years. This is a strong indicator of India's global positioning, with this development being powered by the government's laser focus on reforms for improving logistics infrastructure.

It pointed out that in October 2021, the Centre launched the PM Gati Shakti National Master Plan towards a coordinated approach, leveraging technology, for infrastructure planning and development. Similarly, in September 2022, a National Logistics Policy was announced. It is centred around upgradation and digitisation of logistics infrastructure and services. Further, other initiatives like Sagarmala which aims to improve connectivity to ports and reduce cargo dwell time, and Bharatmala which focused on improving road connectivity of major corridors, have played a pivotal role in improving India's logistics efficiency.