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Budget 2020: Modi government may consider announcement of national logistics policy

Speed News Desk | Updated on: 28 January 2020, 13:07 IST

The government may take into consideration the unveiling of national logistics policy to push for seamless movement of goods on all parts of the country in the upcoming Budget, as per sources.

The policy is being drawn up by the logistics department under the commerce ministry, sources added.

The policy, which also worked towards minimizing the high transaction cost of traders, may suggest laying out of a central portal, which will put forward edge to edge logistics provisions to companies. The portal well be a single window marketplace to ling all stakeholders.

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The suggested policy will also emphasis on expanding the warehouse capacity, and pick out gaps that could bridged to narrow the cost of logistics for traders.

Apart from that, there is a proposal to initiate a national logistics e-market as a one stop marketplace for exporters and importers, lay out a separate fund for start-ups in the logistics sector and to double employment in the sector.

High logistics cost influence the competitiveness of domestic goods in international market.

As specified by sources, effective implementation of the policy would help fork out a boost to trade, augment export competitiveness, and better India’s ranking in the Logistics Performance Index.

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First published: 28 January 2020, 13:07 IST