India’s department for promotion of industry and internal trade (DPIIT) recently signed a memorandum of understanding (MoU) in New Delhi with the National Council of Applied Economic Research (NCAER) for developing a framework for assessing logistics costs in the country.
India's department for promotion of industry and internal trade recently signed an MoU with the National Council of Applied Economic Research for developing a framework for assessing logistics costs. The key deliverables include assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations.
This MoU envisages NCAER to conduct a detailed study and submit the report within a year.
India's department for promotion of industry and internal trade recently signed an MoU with the National Council of Applied Economic Research for developing a framework for assessing logistics costs. The key deliverables include assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations.
The key deliverables of the MoU include making a comprehensive study for assessment of logistics costs for fiscal 2023-24; assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations, and identifying major determinants along with influence on logistics in different sectors, an official release said.
India's department for promotion of industry and internal trade recently signed an MoU with the National Council of Applied Economic Research for developing a framework for assessing logistics costs. The key deliverables include assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations.
At the signing event, attendees suggested the government to look into the intangible and indirect elements of logistics costs that also includes the cost of delay. It was also pointed out that the convenience of establishing business may also be considered as an element affecting the cost.
India's department for promotion of industry and internal trade recently signed an MoU with the National Council of Applied Economic Research for developing a framework for assessing logistics costs. The key deliverables include assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations.
The Indian government had launched the National Logistics Policy (NLP) on September 17, 2022. One of its primary objectives was to reduce the percentage of logistics cost to the gross domestic product.
India's department for promotion of industry and internal trade recently signed an MoU with the National Council of Applied Economic Research for developing a framework for assessing logistics costs. The key deliverables include assessing differentials in logistics costs across routes, modes, products and types of cargo and service operations.
The process of assessing logistics costs involves using data of trade flows, product types, industry trends and origin data pairs.
Fibre2Fashion News Desk (DS)
