India has climbed upto the 38th spot in the World Bank’s Logistics Performance Index (LPI), improving its ranking by 16 places from from 2014 to 2022.
The LPI ranks countries on six parameters - efficiency of the customs clearance process, quality of trade and transport-related infrastructure, ease of arranging shipments, competence, and quality of logistics services, ability to track and trace consignments, and frequency with which shipments reach their destination within the scheduled time.
Prime Minister Narendra Modi hailed the achievement as an encouraging trend for the country. He said that the improvement in ranking was a reflection of the hard work put in by the government and the private sector to enhance the country's logistics capabilities.
India's logistics sector has been undergoing significant reforms in recent years, with initiatives such as the Goods and Services Tax (GST), the Sagarmala Project, and the Bharatmala Project aimed at improving the country's transport and logistics infrastructure.
The country's improved ranking in the LPI is expected to boost investor confidence and attract more foreign investment in the sector.