Summary:

India aims to rank among the top 25 nations on the World Bank Logistics Performance Index (LPI) by 2030, improving from its current 38th position. The logistics sector is projected to grow at an annual rate of 8.8%, reaching Rs. 42.35 lakh crore (US$ 484.43 billion) by 2029. Initiatives such as PM Gati Shakti and the National Logistics Policy focus on infrastructure enhancements and cost reductions to boost efficiency and competitiveness.

India's logistics industry is crucial to its goal of becoming a global logistics powerhouse and achieving developed economy status by 2047. Bridging infrastructure gaps through advanced technology and collaboration between the public and private sectors is essential. The PM Gati Shakti program, with projects worth Rs. 11.17 lakh crore (US$ 127.79 billion), aims to improve logistics efficiency. India's policy promotes multi-modal transportation and faster supply chains, solidifying its reputation as a rapidly growing economy.

Source: IBEF

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