Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
INDIA

India Raises 6 Places in World Bank’s Logistics Performance Index

Picture Source: Internet

India is now ranked 38 in the 139 countries in the World Bank’s Logistics Performance Index, up from 44 in 2018, as soft and hard infrastructure and technology investments helped the nation to recover its port performance on both coasts to the economic poles in the hinterland.


While India’s rank fell in customs performance to 47 from 40 in 2018, it moved five places in infrastructure to 47 from 52.

It was ranked 22 for international shipments in 2023 and moved four places up to 48 in logistics skill and equality. In timelines, the nation saw a 17-place jump in rankings, whereas it moved three places in rank in tracking and tracing to 38.

Modernisation and digitalisation were quoted as reasons for developing economies like India to leapfrog progressive countries.

The average container time between May 2022 and October 2022 was three days for India and Singapore, which is better than the industrialised countries.

The GOI proclaimed PM Gati Shakti’s initiative, a National Master Plan for multi-modal connectivity, in October 2021, which will lessen the logistics cost and work as an economic booster by 2024-25.

The 7th edition of Connecting to Compete, the Logistics Performance Index (LPI) report, comes after three years amid the Covid-19 pandemic.

The LPI covering 139 countries, measures the simplicity of establishing a reliable supply chain and the structural factors like the quality of logistics services, trade and transport associated infrastructure, and border controls.

Get Daily Prediction & Stocks Tips On Your Mobile