India has made a significant leap on the World Bank’s Logistics Performance Index, moving up six places to 38th out of 139 countries in the 2023 ranking. This improvement is the result of the country’s substantial investments in both hard and soft infrastructure, as well as technology. In 2018, India was ranked 44th on the index, and its current position marks a considerable improvement from its 54th rank in 2014.
India and World Bank’s Logistic Performance Index:
- India has climbed five places in infrastructure score, moving from 52nd in 2018 to 47th in 2023.
- The country has also improved its rank in international shipments, moving up from 44th in 2018 to 22nd in 2023.
- India’s logistics competence and equality has also improved, with a climb of four places to the 48th spot in 2023.
- In timelines, India has made significant progress, moving up 17 places in rankings.
- The country has also improved its tracking and tracing capabilities, moving up three places to 38th in 2023.
- The report attributes India’s progress to modernisation and digitalisation, which have enabled emerging economies like India to leapfrog advanced countries in the logistics sector.
Key Highlights of the World Bank’s Logistic Performance Index(LPI) 2023:
- The LPI 2023 provides comparisons of logistics performance across 139 countries.
- This year’s index, for the first time, includes indicators based on big datasets that track shipments to measure trade speed.
- According to the LPI 2023, Singapore and Finland are the most efficient and highest-ranked countries in terms of logistics performance.
- India has made a significant improvement in its logistics performance, ranking 38th out of 139 countries and climbing six places from the previous index.