India ascends six places to rank 38 on World Bank logistics index
2 min read . Updated: 22 Apr 2023, 09:54 AM IST
Premium- According to the report, India's rank in the index of 139 countries has risen to 38 from 44 in 2018.
India has improved its ranking in the World Bank's Logistic Performance Index 2023 by six places, owing to significant investments in both soft and hard infrastructure as well as technology, which has led to an improvement in the country's port performance.
According to the report, India's rank in the index of 139 countries has risen to 38 from 44 in 2018.
In the 2018 report, individual countries were ranked separately. The report highlighted that the Indian government has made investments in both soft and hard infrastructure related to trade, which has helped to connect port gateways on both coasts to the economic poles in the hinterland.
In 2023, India's ranking for international shipments improved significantly, moving up from 44 in 2018 to 22. The country also climbed four places to rank 48 in logistics competence and equality.
In terms of timelines, India saw a significant improvement, moving up 17 places in the rankings. Additionally, India improved three places in tracking and tracing, now ranking at 38.
In 2023, India's ranking for international shipments improved significantly, moving up from 44 in 2018 to 22. The country also climbed four places to rank 48 in logistics competence and equality. In terms of timelines, India saw a significant improvement, moving up 17 places in the rankings. Additionally, India improved three places in tracking and tracing, now ranking at 38.
"End-to-end supply chain digitalisation, especially in emerging economies, is allowing countries to shorten port delays by up to 70% compared to those in developed countries. Moreover, demand for green logistics is rising, with 75% of shippers looking for environmentally friendly options when exporting to high-income countries," it added.
“While most time is spent in shipping, the biggest delays occur at seaports, airports, and multimodal facilities. Policies targeting these facilities can help improve reliability," said Christina Wiederer, senior economist, the World Bank group’s macroeconomics, trade & investment global practice and the report’s co-author.