New National Logistics Policy - 2022

New-National-Logistics-Policy-2022

On September 17 2022, Prime Minister Shri Narendra Modi has unveiled the New National Logistics Policy(NLP) which has been billed as the India’s first holistic approach for the $200 billion sector.This policy has been introduced by Finance Minister Nirmala Sitharaman in 2020s Budget.It integrates the technology with logistic operation to bridge efficiency gap.Modi stated that "World now recognising the fact that India is one of the emerging global manufacturing hub and 5th largest economy in World which set a new target for exports and achieved it. NLP will provide a fresh impetus in export field". Modi added that turnaround of container vessels at ports has been reduced from 44 hours to 26 hours, New eco-friendly waterways has been setup, 40 air cargo terminals have been setup to facilitate exports, 30 airports have cold storage facilitates and 35 multi modal logistics facilitates have been setup. Modi highlighted that GST had reduced paperwork for movement of goods across states.

Aim of the Policy :

  • National logistics sector is largely unorganized, which is why the India’s logistics costs are as high as 14-15% of the GDP.
  • The Policy aims to reduce India’s logistics cost to 8% in the next five years.
  • While transporting perishable commodities to under 5% by improving the cold chain efficiency and warehouse facilities.
  • As per an Arthur D. Little-CII report, higher logistics cost is leading to a competitiveness gap of $180 billion for India, and this gap is likely to above up to $500 billion by 2030.
  • Under new policy, a single window portal will be created, where service providers like Warehousing, transporters, customs brokers, shipping experts, and different governmental agencies will be Unified.
  • The New Logistics Policy lays emphasis on the enhance to more efficient of transportation, as well as the use of greener fuels, it will reduce the supply chain’s carbon footprint.
  • It also aims to functioning of warehouses which is contribute to nearly 10% of the logistics budget.

Will Change INDIA’S Commodity Transport?

  • The New Logistics policy aims to focus on the transport of crucial commodities such as steel, coal, ore, food grains, iron, cement, vegetables and fruits.
  • The current logistical network for transporting them is mainly confined to regional clusters.
  • It will create a new link between the place of origin, and destination, to integrate the supply on a domestic level.
  • The New policy also proposes identification of the right mode of transportation for each of these commodities to minimise losses during transport.
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