NATIONAL LOGISTICS LAW
- Commerce Ministry is considering replacing the Multi-Modal Transportation of Goods Act (MMTG) with a full fledged national logistics law with a view to promote growth of the sector
- National Logistics Efficiency and Advancement Predictability and Safety Act (NLEAPS), is under consideration and this law tends to define various participants of the logistics space and create a light regulatory ecosystem
- Multimodal transportation refers to a combination of more than one mode of movement, such as rail, road or sea, for end-to end delivery of goods
- 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
- India’s logistics sector is highly fragmented and the government aims to reduce the logistics cost from the present 14% of the Gross Domestic Product of less than 10%.
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