Background:
- As per the Economic Survey 2017-18 –
- 22 million people are employed in the Indian logistics sector and
- the worth of Indian logistics market would be around USD 215 billion in next two years compared to about USD 160 billion currently.
- However, India’s logistics sector is highly complex with the involvement of more than 20 govt. agencies, 40 partnering govt. agencies (PGAs) and 37 export promotion councils.
- Also, the aim is to reduce the logistics cost from the present 14% of GDP to less than 10% by 2022.
National Logistics Portal:
- In this background, in this year’s budget speech, Union Finance Minister announced the National Logistics Portal.
- It will be single window platform linking all stakeholders of EXIM and domestic trade like traders, manufacturers, logistics service providers, financial services, Government departments etc.
- The portal will be implemented in phases and will be a key step towards making India a logistics hub.
