Ministry of Commerce to set up separate unit for logistics
As per a national business news portal, the Ministry of Commerce and Industry, Government of India, is planning to form a separate logistics department to deal with the issues such as rising costs in the sector which impacts global competitiveness of exporters.
Currently there is no single department or ministry in India that would look at all the aspects related to various modes of shipment such as railways, roads and sea.
Exporters in the country have demanded for addressing the problems faced by the logistics sector. Commerce Ministry has also suggested to the Railways Ministry that it needs to distinguish between its freight rates for the various categories like, imports, exports and general category.
Currently, Indian goods are less competitive in the world markets as logistics costs of exports are very high in the country.
India aims to raise its share in world trade from 2.52% at present to 3.5% by 2020.