India has improved its ranking in the World Bank Group’s bi-annual “Logistics Performance Index (LPI) 2016”. The World Bank Group announced this in its recent report. In 2014 India was in 54th position in. However, now it’s 35th.
Logistics organises the movement of goods through a network of activities and services operating at global, regional, and local scale. With this latest ranking India has gone past countries like New Zealand, Thailand, Saudi Arabia, Iceland, Latvia andIndonesia.
Dr. Jim Yong Kim, President of World Bank met the Prime Minister Narendra Modi and congratulated him on this achievement. India’s new rank in the LPI list will certainly boost “Make in India” programme.
This is a perception survey based on two sources of information:
➢ A worldwide survey of logistics professionals operating on the ground. (Such as global freight forwarders and express carriers).
➢ Quantitative data on the performance of key components of the supply chain. (Such as the time, cost and required procedures to import and export goods).
The World Bank studies the policy regulation as well as supply chain performance outcomes across six sub-indices of the Logistics Performance Index and ranks countries based on theirperformance in all the indices.
Among these six sub-indices of the Logistics Performance Index, it is clear that India has improved the most on “the efficiency of customs and border management clearance”. And all this is possible because of some recent developments in customs laws.
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