Guwahati: India moved up 16 spots from 2014 to 2022 to take the 38th position in the World Bank’s Logistics Performance Index (LPI).
The LPI rates nations based on six factors: the speed with which shipments clear customs, the standard of the infrastructure supporting trade and transportation, the simplicity with which shipments can be planned, the expertise and standard of logistics services, the ability to track and trace shipments and the frequency with which shipments arrive at their destination on time.
The accomplishment was praised by Prime Minister Narendra Modi as a positive development for the nation. He claimed that the rise in ranking was attributable to the effort made by the public and private sectors to improve the nation’s logistical skills.
With programmes like the Goods and Services Tax (GST), the Sagarmala Project and the Bharatmala Project aimed at enhancing the nation’s transport and logistics infrastructure, India’s logistics industry has seen substantial transformations in recent years.
The country’s increased LPI ranking is anticipated to increase investor confidence and draw more international capital into the industry.