NLP will spur growth, increase India's participation in global trade: PM

The efforts in the logistics sector will particularly benefit the farmers of the country and the micro, small and medium enterprises (MSME) sector, PM Modi said in a tweet.

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Prime Minister Narendra Modi said on Wednesday the Union cabinet's decision on India's logistics policy will accelerate growth and increase the country's participation in global trade.

The efforts in the logistics sector will particularly benefit the farmers of the country and the micro, small and medium enterprises (MSME) sector, Modi said in a tweet.

"Today's Cabinet decision on a PLI scheme relating to the National programme on High Efficiency Solar PV Modules will enhance manufacturing in the sector and boost investment," the prime minister said in another tweet.

The cabinet earlier approved the National Logistics Policy, which aims at reducing the transportation cost and improve the global performance of the sector.

Modi last week unveiled the policy, which seeks to cut transportation costs by promoting a seamless movement of goods across the country.

The cabinet also approved modifications in the scheme for semiconductors and the display manufacturing ecosystem with a uniform fiscal support of 50 per cent of the project cost for all technology nodes under the ambitious programme.