Union Cabinet approves India-UAE pact on economic corridor
The aim of the IGFA is to enhance the bilateral relations and to further strengthen the relations between the two countries in the ports, maritime and logistics sectors.
Prime Minister Narendra Modi will launch the National Logistics Policy (NLP) on Saturday at the Vigyan Bhawan in New Delhi.
According to the Prime Minister’s Office, the need for a national policy was felt since the logistics cost in India is high compared to other developed economies. “It is imperative to reduce the logistics cost in India for improving the competitiveness of Indian goods both in domestic as well as export markets. Reduced logistics cost improves efficiency cutting across various sectors of the economy, encouraging value addition and enterprise,” said a statement by the PMO.
It further said that the government has put significant emphasis on improving both Ease of Doing Business and Ease of Living since 2014.
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“National Logistics Policy, a comprehensive effort to address issues of high cost and inefficiency by laying down an overarching interdisciplinary, cross-sectoral and multi-jurisdictional framework for the development of the entire logistics ecosystem, is yet another step in this direction,” the statement said.
The policy is an endeavour to improve the competitiveness of Indian goods, enhancing economic growth and increasing employment opportunities.
“It has been the vision of the Prime Minister to develop world-class modern infrastructure through integration of all stakeholders in holistic planning and implementation so that efficiency and synergy are achieved in the execution of the project. The PM GatiShakti – National Master Plan for muti-modal connectivity – launched by the Prime Minister last year, was a pioneering step in this direction. PM GatiShakti will get further boost and complementarity with the launch of National Logistics Policy,” said the PMO.
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