India and World Bank discussed to explore the
possibility to strengthen the bank’s support towards the country’s development
with collaboration in specific areas of Trade,Logistics and investment. The
World Bank team from Washington met Commerce Minister Suresh Prabhu in this regard
at the national capital on July 12th.
The team was led by Ms Caroline Freund, Director of
Trade, Regional Integration and Investment climate and Mr Junaid Ahmed, Country
Director for the World Bank in India.
The Minister highlighted the work being done by the
Ministry for developing a National Integrated Logistic Policy (NILP).The Policy
will focus on increasing the capacity of storage and warehousing and other
value added services.
Multimodal logistics parks, integrating various
transportation modes, are also being developed right up to the district level.
The Minister also highlighted the work being done by the Ministry towards
identifying specific products and markets to increase India's exports by USD
100 bn. He underlined the need for understanding product specific supply chains
for India to integrate effectively into global supply chains. The (NILP) will
reduced the cost of goods and make Indian product more competitive.
meeting it was agreed that a workshop will be conducted with World Bank and concerned
Ministries in order to identify specific interventions required to streamline
logistics in the country with an aim to integrate Indian products into Global value chains.