'USBIZ-LOGISTICS COSTTask force to be set up to formulate logistics cost frameworkTask force to be set up to formulate logistics cost framework

The government is going by certain estimates which suggest that logistics cost in India stands at about 13-14 per cent of the countrys GDP.

The Commerce and Industry Ministry on Monday decided to set up a task force for formulating a framework for determining logistics costs in the country.

The task force members would include representatives from NITI Aayog, the Ministry of Statistics and Programme Implementation (MOSPI), the National Council of Applied Economic Research (NCAER), academic experts and other stakeholders, according to an official release.

It ''will be established for formulating a Logistics Cost Framework in a time-bound fashion,'' the Department for Promotion of Industry and Internal Trade (DPIIT) said.

The DPIIT also organised a one-day workshop on “Logistics Cost Framework '' in partnership with Asian Development Bank (ADB).

Speaking at the workshop, Commerce and Industry Minister Piyush Goyal suggested to take note of India's geography, terrain, size and complexities, trade volume and value etc while calculating the logistics cost. He said that e-commerce, smarter free trade agreements, adopting international quality standards, good manufacturing practices, leveraging on successful startups ecosystem, drone technology, artificial intelligence and centre-state partnerships will work towards catalyzing India's development. 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 logistics policy and PM Gati Shakti initiative to boost competitiveness of industry and cut the logistics cost.