A background has been prepared for assessing the logistics cost in India for FY24. The Department for Promotion of Industry and Internal Trade (DPIIT) has inked a pact with think tank NCAER for devising a detailed framework for assessing logistics cost for 2023-24. The Ministry of Commerce and Industry said in a statement that the think tank would also do an assessment of differentials in logistics costs across routes, modes, products, types of cargo, and service operations; besides identifying major determinants along with influence on the logistics in different sectors.
It said the logistics cost of the country needs to be regularly assessed and monitored such that the data on cost variation will both benefit the industry and the policymakers.
This process involves using data on trade flows, product types, industry trends and origin data pairs.
In addition to conducting detailed secondary surveys, this requires an institutionalised framework for the process of data collection in a systematic and periodic manner.
“With this objective, DPIIT and NCAER today signed an MoU with a key deliverable of developing a detailed framework for assessment of logistics cost in the country,” the ministry said.
