DPIIT and NCAER sign MoU to develop logistics cost framework in India.
The Department for Promotion of Industry and Internal Trade (DPIIT) and the National Council of Applied Economic Research (NCAER) have inked a Memorandum of Understanding (MoU) aimed at formulating a comprehensive framework to assess logistics costs in India. This collaboration will involve a detailed study of logistics costs for the fiscal year 2023-24, examining variations across routes, modes, products, and service operations.
DPIIT Secretary Rajesh Kumar Singh highlighted the significance of data-driven evaluation for logistics cost assessment. During discussions with stakeholders, it was suggested to include high-value and high-volume commodities in the study and consider intangible costs such as delays. The NCAER is tasked with completing the study and submitting a report within a year.
The initiative aligns with the National Logistics Policy (NLP) launched in September 2022, which aims to reduce logistics costs as a percentage of GDP. The study’s outcomes are expected to have significant impacts on India’s logistics sector, providing valuable data for both industry and policymakers.
