Delhi, India According to two officials, the government may soon introduce an online logistics marketplace that will seamlessly connect carriers, warehouses, freight forwarders, customs, regulatory agencies, and other parties to create a productive supply-chain network that will lower average logistics costs and lower the price of consumers' basic necessities.
They added, requesting anonymity, that this might be a component of the National Logistics Policy (NLP), which Prime Minister Narendra Modi will announce on Saturday. One of them stated that "Efficiency could significantly lower logistics costs for bulk items, such as agricultural produce," adding that the average logistics cost also includes the transportation of low-volume, high-value goods like precious metals, semiconductors, and jewellery.
NLP is required if we want to transform India into a developed economy by 2047, according to a second official. Even though India's economy is expanding at the fastest rate in the world, its logistics expenses are relatively expensive.
Although various media sources stated last year that a commerce ministry research ordered to the National Council of Applied Economic Research came up with the value of 8.35%, it was widely thought that India's logistics cost as a percentage of GDP was 13–14%. For most developed countries, it is approximately 10%.