Logistics

The company aims to use the funds for tech innovations to solve the fragmented nature of the cold supply chain and reduce wastage of perishables

Economic Advisory Council to the Prime Minister (EAC-PM) member Rakesh Mohan on Tuesday said he is unable to find the basis for assuming that logistics cost account for 14 per cent of India's GDP and the assumption forms the basis for government initiatives like production-linked incentive (PLI) schemes. Addressing an event organised by economic think tank ICRIER, Mohan further said he failed to find out how 14 per cent logistic cost number was arrived at by think tanks or researchers. "It seems to be generally accepted that India's logistics costs are significantly higher than global benchmarks. I have tried to look into this, but I can never find what is the basis of this data... this report (CRIER report) repeats the often used number of India's logistics costs being 14 per cent of GDP," former deputy governor of RBI said. The government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the country's GDP. The government has

Ports, shipping and waterways minister Sarbananda Sonowal on Friday launched 'Sagar Setu' mobile app of National Logistics Portal Marine. Sonowal said the app will provide real-time information of activities that are generally not in reach of the importer, exporter, and customs broker, including vessel-related information, gate, container freight stations and transactions. According to an official statement, it also enables digital transactions for payments required for the clearance process of import and export like container freight station charges, shipping line charges, transportation charges, etc. Sonowal said the Sagar-Setu app of the National Logistics Portal (Marine) would help custodians in easier access to functionalities on a hand-held device. The mobile app will ensure data mobility such that approvals and monitoring shall be at the finger tips of port and ministry officials as well as stakeholders, he added.

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday. Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible. The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said. "We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said. Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..

The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah said Tuesday. Addressing the annual session of Assocham, Shah said, without the development of the country's infrastructure and reduction of logistics costs, development was not possible. The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally, he said. "We will have to remove the eight per cent and 13 per cent gap. We have formulated a framework for the next five years. I can assure you that we will reach 7.5 per cent logistics cost in the next five years," he said. Shah said the Narendra Modi government has made a plan of Rs 100 lakh crore investment in infrastructure with some mega projects such as the doubling of railway lines, their widening, dedicated freight corridors from Mumbai to Delhi and Amritsar to Kolkata besides 11 other ..

The two-day regional workshop on PM GatiShakti National Master Plan -- organised by the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry -- concluded here on Saturday, with more than 140 officials and industry players taking part in the session. The theme for the second day was National Logistics Policy. States, including Assam, Manipur, Mizoram, and Tripura, gave presentations on their respective logistics policy, she said. DPITT Special Secretary (Logistics) Sumita Dawra said that these workshops are facilitating wider adoption of the PM GatiShakti National Master Plan and National Logistics Policy across states and Union territories (UTs), in the spirit of cooperative federalism. Such initiatives bring more vigour and build synergy among different stakeholders resulting in mutual learning among states or UTs and central ministries or departments, she said. On the first day, the workshop had focused on ways to strength

Around 5,642 warehousing projects have been completed under the Warehouse Infrastructure Fund (WIF) scheme so far, Parliament was informed on Friday. Under the Warehouse Infrastructure Fund (WIF) scheme, under the Ministry of Finance, about Rs 9,393.68 crore funds have been sanctioned till December 2022 for establishment of 7,953 warehouse projects spread across 21 states, Agriculture Minister Narendra Singh Tomar said in a written reply to the Rajya Sabha. The estimated storage capacity on completion of these projects will be 9.32 million tonnes, he said. Out of which, the cumulative disbursement of WIF loan till December 2022 was Rs 8,357 crore, as against the sanctions. "As on date, 5,642 projects have been completed," the Minister said. Apart from the WIF scheme, Tomar said the Agriculture Infrastructure Fund (AIF) scheme of the Ministry of Agriculture facilitates medium-long-term debt financing for investment in viable projects relating to post-harvest management infrastructur

Logistics company DP World on Friday announced entering into a partnership with Delhi Capitals cricket team of Indian Premier League (IPL). "DP World is now the Global Logistics Partner of the popular cricket franchise. As part of the long-term partnership, it will provide the necessary logistical support and expertise to Delhi Capitals team throughout the season," the company said in a statement. Under the partnership, the branding of DP World will also be carried by the team on their match jerseys as well as training gears, it said. Rizwan Soomar, CEO & MD India Subcontinent & Sub-Saharan Africa, DP World, said: "Over the years, cricket has transformed itself, with ever evolving formats unlocking enormous potential for players across the world and making the game engaging and exciting for a diverse set of audiences. Similarly, DP World is relentlessly focused on innovation, constantly seeking out new opportunities to revolutionise global trade and open opportunities for our .

The Network Planning Group (NPG) under the PM Gati Shakti initiative has approved six infrastructure projects related to renewable energy, road and railways, an official statement said on Wednesday. On October 13 last year, the PM Gati Shakti - National Master Plan was launched with an aim to develop integrated infrastructure to reduce logistics costs. All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG. "The NPG under PM Gati Shakti at its 45th session examined and recommended 6 Infrastructure projects," the commerce and industry ministry said, adding that these projects will be developed in tandem with the PM Gati Shakti principles using the integrated and holistic approach. One of the projects include an inter-state transmission system for renewable energy projects in Ladakh; Kanpur Anwarganj - Mandhana elevated railway track; doubling of Ajmer - Chittaurgarh railway line of 178.28 km and construction o

A task force will be set up for formulating a framework to determine logistics costs in the country, the commerce and industry ministry has said. It was decided in a workshop organised by Department for Promotion of Industry and Internal Trade (DPIIT) on the subject, on Monday. The task force members would include representatives from NITI Aayog, Ministry of Statistics and Programme Implementation (MOSPI), National Council of Applied Economic Research (NCAER), academic experts and other stakeholders. It "will be established for formulating a logistics cost framework in a time-bound fashion," it said. The workshop on logistics cost framework was organised in partnership with Asian Development Bank (ADB). Speaking at the workshop, Commerce and Industry Minister Piyush Goyal suggested taking note of India's geography, terrain, size and complexities, trade volume and value etc while calculating the logistics cost. He said e-commerce, smarter free trade agreements, adopting internatio

Improved varieties, better shelf life, efficient processing and access to markets are all vital for strengthening the millet value chain, a senior Agriculture Ministry official said on Sunday. "We must carry out R&D in all areas of the value chain of millets and bring together the knowledge of production, processing and storage and make it available to the consumer," Joint Secretary in the Agriculture Ministry Vijaya Lakshmi Nadendla said addressing a plenary session at the Global Millets Conference. The government is propagating millets cultivation and increasing demand, it is expected that more women will get engaged in the cultivation of millets, thereby leading to a need for skilling and capacity building, she said at another session at the conference. She said the government is "exclusively promoting 100 per cent Women FPOs" and issued a guideline for the inclusion of "one woman on the Board of Directors of each FPO". On the occasion, ITC Ltd Group Head (Agri & IT ...

First ever non-coal zone to achieve the feat

The department for promotion of industry and internal trade (DPIIT) is starting an exercise to prepare a framework for determining logistics cost in the country, an official said on Thursday. For this, the department will be holding a workshop on the subject, where experts, academicians, professors, and statisticians across the globe will participate on March 20 here besides government officials. "We hope to firm up an index to gauge the country's logistics cost in a year. It will be an annual affair after that.We are organising an international workshop on logistics cost framework," the official said. Many international players from countries like Japan, Korea and Germany will attend. "We will deliberate on various modules and choose the framework that best suits us," the official added. At present, the government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the country's GDP. The government has rolled out a national

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Deal will boost IBS leadership as a tech provider to airfreight industry, is a strategic step towards helping establish the acquirer as an end-to-end player in global freight supply chain

The focus will also be on how logistics costs can be reduced, as far as international trade is concerned

Union Minister of State for Commerce and Industry Anupriya Patel, on Sunday, praised the efforts of Uttar Pradesh in achieving the national target of reducing logistics costs

With the completion the 3rd phase at an investment of $2 million, the unit now has a storage capacity of over 1.8 million standard carton equivalent (SCEs), with additional 40,000 SCE of vault storage

The single-window platform aims to bring all trade stakeholders together and reduce logistics cost with real-time mapping and provisioning

The PM GatiShakti initiative will play a significant role in reducing the logistics cost, increasing efficiency and benefitting businesses, a top government official said on Monday. On October 13 last year, Prime Minister Narendra Modi launched the Gati Shakti- National Master Plan aimed at developing an integrated infrastructure to reduce logistic costs. All logistics and connectivity infrastructure projects, entailing an investment of over Rs 500 crore, are routed through the NPG (network planning group), constituted under the PM GatiShakti initiative. PM GatiShakti "will play a significant role in reducing the logistic obstacles and increase logistics efficiency and benefit the businesses," Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain said here at the inaugural session of B20 Inception Meeting, organised by industry body CII. He also said that the PM GatiShakti portal has over 1,600 data layers related to subjects such as land, ...