📈 India's Logistics Revolution: Driving Efficiency and Competitiveness 🚛 India's logistics sector is witnessing remarkable progress, as highlighted in the Economic Survey 2024. With the nation climbing up the ranks in the Logistics Performance Index (LPI) and reaping the benefits of initiatives like PM Gati Shakti and the National Logistics Policy, the industry is set to become a global leader in efficiency and competitiveness. Key Insights: 📈 LPI Improvement: India has significantly improved its international shipments and overall LPI rankings. 📈 Strategic Initiatives: GST, Big Data, and digital reforms like FASTag and ULIP are transforming the logistics landscape. 📈 Port & Shipping Development: Initiatives like the Sagarmala Scheme and Maritime Vision 2030 are paving the way for a robust maritime infrastructure. 📈 Efficiency Gains: Reduction in container turnaround time and increased waterway cargo movement are clear indicators of India's growing logistics prowess. Suchita Shukla has brilliantly summarized the strides India is making in logistics, underscoring its impact on economic growth and global competitiveness. 🚀 #Logistics #EconomicSurvey2024 #India #Infrastructure #DigitalTransformation #SupplyChain #Efficiency #WeSchool #Operations #SupplyChainInnovation Chandravadan Goritiyal, PhD, PMP®Swapnil Desai ,Ph.D (Dr.D) Dr. Farzan Ghadially Siddhartha Goutam Vartika Sethi Piya Ghosh Dr. Shrutika Patil Hemant Kale Ravindra Kale
India's Logistics Sector: Major Strides in Efficiency and Competitiveness The Economic Survey 2024, presented by Finance Minister Nirmala Sitharaman, highlights significant progress in India’s logistics: 📈 LPI Improvement International Shipments rank: 22nd in 2023 up from 44th in 2014. Overall LPI rank: 38th in 2023 up from 44th in 2018. 🚛 Key Drivers PM Gati Shakti & National Logistics Policy: Boosted manufacturing and export competitiveness. GST Implementation: Reduced border delays, increasing average truck travel distance to 300-325 km. Big Data & Digital Reforms: Enhanced planning and efficiency with e-way bills, FASTag, and ULIP. ⚓ Port & Shipping Development Sagarmala Scheme: Expanding port capacity to over 10,000 MTPA by 2047. Maritime Vision 2030: Strengthening port, shipping, and waterways infrastructure. 🔄 Efficiency Gains Container turnaround time reduced by 50%. Waterway cargo movement up by 7.5%. India is making significant strides in logistics, driving economic growth and global competitiveness. PGDM Research and Business Analytics WeSchool, Mumbai OpsChain - The Operations Club of WeSchool Operations club (WeSchool) #Logistics #EconomicSurvey2024 #India #Infrastructure #DigitalTransformation #SupplyChain #Efficiency