Budget 2020: Govt may consider unveiling national logistics policy; likely to set up a single-window marketplace

  • The policy is being worked out by the logistics division under the commerce ministry

  • The policy, which also aimed at reducing the high transaction cost of traders, may propose setting up of a central portal, which will provide end-to-end logistics solutions to companies

  • High logistics cost impacts the competitiveness of domestic goods in international markets

New Delhi: The government may consider the announcement of national logistics policy to promote seamless movement of goods across the country in the forthcoming Budget, sources said.

The policy is being worked out by the logistics division under the commerce ministry, they added.

The policy, which also aimed at reducing the high transaction cost of traders, may propose setting up of a central portal, which will provide end-to-end logistics solutions to companies.

The portal will be a single-window marketplace to link all stakeholders.

 Budget 2020: Govt may consider unveiling national logistics policy; likely to set up a single-window marketplace

Representational image. Reuters

The proposed policy will also focus on increasing the warehousing capacity, and identify gaps that could be bridged to bring down the cost of logistics for traders.

Besides, there is a proposal to create a national logistics e-marketplace as a one-stop marketplace for exporters and importers, set up a separate fund for start-ups in the logistics sector and to double employment in the sector.

High logistics cost impacts the competitiveness of domestic goods in international markets.

The sources said that effective implementation of the policy would help provide an impetus to trade, enhance export competitiveness, and improve India's ranking in the Logistics Performance Index.

Finance Minister Nirmala Sitharaman will unveil the Budget for 2020-21 on 1 February.

Follow full coverage of Union Budget 2020-21 here

 

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Updated Date: Jan 28, 2020 11:41:11 IST