Read on Twitter
A huge win for India!
According to World Bank’s Logistics Performance Index 2023, India jumps 6 places to rank 38!
Experts believe that India would rank top 10 in the next few years it can make India a $5T economy, here's why:
According to World Bank’s Logistics Performance Index 2023, India jumps 6 places to rank 38!
Experts believe that India would rank top 10 in the next few years it can make India a $5T economy, here's why:
First, let's understand why this is such a big deal:
The World Bank Logistics Index is widely used as a benchmark for a country's transportation sector.
The better a countries rank, the better its transportation facilities.
The World Bank Logistics Index is widely used as a benchmark for a country's transportation sector.
The better a countries rank, the better its transportation facilities.
Prior to entering a new market, a company typically considers various benchmarks, including logistics, to evaluate the likelihood of profitability.
Why?
As a country's poor logistics infrastructure can pose significant obstacles in terms of supply and transportation.
Why?
As a country's poor logistics infrastructure can pose significant obstacles in terms of supply and transportation.
Conversely, a country with strong logistics can enhance its economy through
• Lower transportation costs,
• Faster delivery of perishable items,
• Smoother transportation of both raw materials and consumer goods to the required place.
• Lower transportation costs,
• Faster delivery of perishable items,
• Smoother transportation of both raw materials and consumer goods to the required place.
Improving its logistics ranking can thus signal to the global community that India is an increasingly attractive destination for business.
In order to achieve a place among the top 10 logistics performers by 2028, the government is implementing several key initiatives, which are
In order to achieve a place among the top 10 logistics performers by 2028, the government is implementing several key initiatives, which are
1. PM Gati Shakti Masterplan.
Launched in Oct 2021, this plan aims to improve our logistics infrastructure by :
• Combining existing and proposed infrastructure initiatives of different departments.
• Use of technology to reduce costs
• Focus on the supply chains
Launched in Oct 2021, this plan aims to improve our logistics infrastructure by :
• Combining existing and proposed infrastructure initiatives of different departments.
• Use of technology to reduce costs
• Focus on the supply chains
2. National Logistics Policy.
In short, this policy has the aim of digitizing the entire logistics sector, while reducing the overall carbon footprint.
For more details, watch our video below:
In short, this policy has the aim of digitizing the entire logistics sector, while reducing the overall carbon footprint.
For more details, watch our video below:
3. Logistics Data Bank Project.
Launched under a public-private partnership in 2016, this project aims to improve transparency in the supply chains.
• It uses RFID tags to track containers.
• It gives companies data about congestion, dwell times, speed, transit, etc
Launched under a public-private partnership in 2016, this project aims to improve transparency in the supply chains.
• It uses RFID tags to track containers.
• It gives companies data about congestion, dwell times, speed, transit, etc
4. LEADS: Logistics Ease Across Different States study.
This study occurring since 2018 identifies and resolves logistics inefficiencies to improve trade across the supply chains.
It has helped to drastically improve our cross-border trades and reduce costs.
This study occurring since 2018 identifies and resolves logistics inefficiencies to improve trade across the supply chains.
It has helped to drastically improve our cross-border trades and reduce costs.
5. Sagarmala and Bharatmala initiatives.
These two programs are aimed at the Ports.
They work on the overall development of the ports, by
• Improving the road/rail connectivity to all major and minor ports.
• Develop infrastructure near the major corridors.
These two programs are aimed at the Ports.
They work on the overall development of the ports, by
• Improving the road/rail connectivity to all major and minor ports.
• Develop infrastructure near the major corridors.
Read this post released by the Gov. if you want to acquire further knowledge about this subject:
pib.gov.in/PressReleaseIf…
pib.gov.in/PressReleaseIf…
Can you think of any other reasons for this jump in India's ranking?
Post your answer down below and win a chance to get a shoutout in the next thread!
Post your answer down below and win a chance to get a shoutout in the next thread!
Are you ready to expand your knowledge of the business world and global affairs?
Follow us @thinkschoolbot for more such insightful knowledge about India and its policies!
PS: Like the first tweet to make Twitter baba happy ;)
Follow us @thinkschoolbot for more such insightful knowledge about India and its policies!
PS: Like the first tweet to make Twitter baba happy ;)
https://twitter.com/thinkschoolbot/status/1653709956762451968
• • •
Missing some Tweet in this thread? You can try to
force a refresh
