The Logistics Division of the Commerce Ministry signed an agreement with industry body CII to address challenges facing the country’s logistics sector and help take measures to bring down costs.
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Compared to the 8-9% logistic cost in developed countries, Logistics costs in India is at 13-14% of GDP.
The Ministry said it aimed to establish a Logistics Working Group with a cochairperson from the CII Institute of Logistics, a centre of excellence working on logistics and supply chain management.
As per the MoU, CII will identify logistics challenges facing industry and suggest action solutions to the Logistics Division, according to a CII statement.
It will also interact with state governments and work on promoting the logistics sector, along with capacity building programs. The two sides will cooperate in organising a National Logistics convention each year to bring together stakeholders in the sector.
The World Bank Logistics Performance Index ranked India 35 in 2016 as compared to 54 in 2014.
CII
The Confederation of Indian Industry (CII) is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India's development process
It was founded in 1895 and the premier business association has over 8,500 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 200,000 enterprises from around 265 national and regional sectoral industry bodies.
CII charts change by working closely with Government on policy issues, interfacing with thought leaders, and enhancing efficiency, competitiveness and business opportunities for industry.
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