Here is how national logistics policy will aid the logistics sector in India

Dinesh further added that the results and benefits of the policy would be visible in less than 12-24 months.

The National Logistics Policy seeks to address challenges facing the transport sector and bring down the logistics cost for businesses from 13-14 percent to a single digit. It aims to promote a seamless movement of goods across the country, commerce and industry minister Piyush Goyal said on September 13.

NLP will focus on world-class infrastructure, modern warehousing, digitalisation, regulations, tracing and tracking, ease of shipping, and timeliness, Modi said during the policy's unveiling. Integrating Digital Systems, Unified Logistics Interface Platforms, Ease of Logistics Service Portals, and System Improvement Groups would be the four key features.

According to Dinesh, NLP will result in better infrastructure utilisation as it will reduce the time and effort that goes into the logistics sector and encourage the utilisation of assets with the visibility of goods movement.

‘The Gati Shakti programme would have been very good for asset creation, but it may not have resulted in the best asset utilisation, which is an outcome of the National Logistics Policy. So, both of them coming together is a real solution for us to reduce logistics costs,” added Dinesh.

In the proposed logistics sector action plan, digital logistics systems will be integrated, physical assets will be standardised, service quality standards will be benchmarked, the state will be involved, human resources development and capacity building will be implemented, and export-import logistics will be undertaken, sector-based logistics plans will be developed, and logistics parks will be developed, as reported by news agency PTI.

Over 20 government agencies, 40 partner government agencies (PGAs), 37 export promotion councils, 500 certifications, over 10,000 commodities, and a market size of $160 billion make up the logistics sector. It also involves 200 shipping agencies, 36 logistics services, 129 inland container depots, 168 container freight stations and 50 IT ecosystems, banks and insurance agencies.