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MOU signed between Commerce Dept and CII for setting-up an institutional mechanism for the development of Logistics sector in the country

The Commerce Department and the Confederation of Indian Industry have signed a Memorandum of Understanding to work; towards bringing down the Logistics cost in the country to ten per cent of the GDP as against the present figure of 14 per cent in the next five years. Commerce Minister Suresh Prabhu was present on the occasion

The Government has recently entrusted the task of integrated development of Logistics sector in the country to the Department of Commerce. To fulfil this a MoU with Confederation of Indian Industry has been signed on January 17th in the presence of the Minister for Commerce Suresh Prabhu in New Delhi.  On this occasion the Minister congratulated Logistics division of the Department of Commerce and CII for this initiative and urged them to work together for taking Logistics sector to global levels both in terms of efficiency and cost.

The Minister has given the roadmap for modernizing the Logistics Sector in India and bring it at par with the global best. For this purpose, a concerted effort in collaboration with Central line Ministries as well as State Governments has been initiated for simplifying the regulatory processes in both domestic and EXIM logistics.

Logistics division headed by a Special Secretary of the Department of Commerce is working on a comprehensive action plan to reduce the cost of EXIM and domestic Logistics in the country by making it more efficient through easing of processes, induction of Information Technology and co-ordinated enhancement of Logistics infrastructure in the country. The Government has recently granted infrastructure status to a number of Logistics activities, which shall enable them to avail cheaper and long term commercial loans.

Work has also been initiated on an integrated Logistics portal that will be a transactional e-marketplace connecting buyers with logistics service providers with all the Government agencies such as Customs, PGAs, Port Community Systems, Sea and Air Port terminals, Shipping lines, Railways etc.   In order to establish linkages with the Government agencies, industry and academia, for developing a detailed action plan, Logistics division has planned to enter into formal partnership with all the stakeholders. :

The road map includes the setting up of a Logistics Working group with representatives from Department Of Commerce and Industry to examine issues related to logistics and recommend solutions, to foster focused engagement with the industry, To collaborate with the concerned agencies including state Govts and other related agencies, To undertake mutually agreed focused studies on logistics and to promote Govt’s policies on logistics.

 

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