India climbs 38th in World Bank’s Logistics Performance Index 2023
According to the Ministry of Commerce & Industry, India’s rank in the 7th edition of the World Bank’s Logistics Performance Index 2023 has improved by 6 positions, and it now stands at 38th among 139 countries. The ministry further stated that India has shown significant progress in 4 out of 6 LPI indicators.
India’s Performance in World Bank’s Logistics Performance Index 2023: Key Points
- The government claimed in an official statement that India’s improved logistics infrastructure is evidence of the country’s global standing.
- They attribute this development to their concentrated effort on reforming logistics infrastructure.
- The government also mentioned that the PM GatiShakti National Master Plan, launched in October 2021, is responsible for this update.
- The plan aims to address the evolving requirements of logistics due to factors such as e-commerce, urbanization, energy preferences, and the need to establish sturdy supply chains.
- Additionally, the Ministry stated that India’s ranking was improved due to the implementation of the National Logistics Policy (NLP), which provides guidance for States or UTs in developing logistics policies.
- The NLP focuses on promoting energy-efficient transportation modes and the use of greener fuels to minimize carbon emissions.
- Moreover, the Commerce Ministry mentioned that the government invested in trade-related infrastructure, including both soft and hard infrastructure, to connect port gateways on both coasts to economic zones in the hinterland.
Logistics Data Bank project by NICDC
The Ministry stated that the Logistics Data Bank project by NICDC, which involves the use of RFID tags on containers and has been implemented in the Western region of India since 2016, and expanded to a Pan India level in 2020, has resulted in significant improvements in cross-border trade facilitation.
Additionally, the project fosters competition among ports by offering data on performance benchmarking, congestion, dwell time, speed, and transit time analysis, according to the Ministry. The Ministry also recognized that initiatives such as Sagarmala and Bharatmala have been instrumental in enhancing India’s logistics efficiency.