New Delhi, Jan 17 (KNN) In an attempt to strengthen the overall logistics sector in the country, the Department of commerce recently signed an MoU with Confederation of Indian Industries (CII).

The MoU was signed in the presence of the Minister for Commerce & Industry Suresh Prabhu in New Delhi, a release from ministry informed.

The MoU comes at a crucial juncture where the government has decided to reduce the Logistics cost in the country from the present 14 per cent of GDP to less than 10 per cent by 2022.

With the MoU in place, the department expects the logistics sector to emerge as cost efficient sector.

“Logistics division headed by a Special Secretary of the DoC, Government of India, 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 release further said.

Also 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.  

Also the government announced its road-map for further strengthening of the sector by bringing on board the different government agencies, industry and academia.
(With PIB Inputs) (KNN/DA)