World Bank Insights: India’s Logistics Cost and Trade Performance under Nitin Gadkari's Vision

Friday, 20 September 2024, 01:44

World Bank reports India’s logistics performance is improving, with a goal to reduce costs to single digits by 2030 under Nitin Gadkari's leadership. Recent analysis shows significant gains in trade and exports, particularly in international shipments. However, high logistics costs and infrastructure inefficiencies pose challenges ahead.
Moneycontrol
World Bank Insights: India’s Logistics Cost and Trade Performance under Nitin Gadkari's Vision

World Bank Insights into India's Logistics Performance

Union minister for road transport and highways Nitin Gadkari has announced an ambitious plan for the Indian government to reduce logistics costs to single digits by 2030. This bold objective aligns with the findings of the recent World Bank Logistics Performance Index (LPI) that showcases India’s significant progress.

India’s Rising Logistics Rankings

India has improved its logistics performance, climbing 15 ranks to #39 globally in the 2023 World Bank’s Logistics Performance Index. This achievement highlights the country's commitment to enhancing its logistics infrastructure and capabilities.

  • Most gains in logistics derived from international shipments.
  • India now ranks #22 out of 139 economies for international shipments.
  • Contrast with rank #44 a decade ago signifies remarkable growth.

Challenges Ahead for India’s Logistics Sector

Despite these gains, logistics costs remain a concern. Addressing infrastructure-related inefficiencies will be crucial for further improvements in costs and rankings.

Key Takeaways

  1. Logistics performance has drastically improved over the past decade.
  2. Significant emphasis on lowering costs for trade and exports.
  3. Ongoing inefficiencies must be resolved to boost performance.

For more details on India's logistics strategy and its impact on the economy, please check official sources and reports.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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