CURRENT AFFAIRS

Detailed explanation-1: -The National Logistics Policy, launched by Prime Minister Narendra Modi on September 17, is the logical next step to provide a comprehensive agenda to develop the entire logistics ecosystem with two major visions. The first is to reduce logistics cost in India by 5 per cent of GDP over the next five years.

Detailed explanation-2: -The govt will focus on digital transformation in the logistics sector and bring it in line with global standards. The new policy has four features: Integration of Digital System (IDS), Unified Logistics Interface Platform (ULIP), Ease of Logistics (ELOG), and System Improvement Group (SIG).

Detailed explanation-3: -The National Logistics Policy (NLP) 2022 is a well-timed, game-changing initiative and a comprehensive effort to enhance the efficiency of the logistics ecosystem. It will spur the economy’s competitiveness through improved connectivity and smooth movement of goods in both domestic and international markets.

Detailed explanation-4: -What is NLP 2022? About: The policy focuses on key areas such as process re-engineering, digitisation, and multi-modal transport. It is a crucial move as high logistics cost impacts the competitiveness of domestic goods in the international market.