Working on draft logistics policy: Prabhu

The commerce ministry is working on a draft national logistics policy, which is aimed at promoting seamless movement of goods across the country and reducing high transaction cost of traders, Union minister Suresh Prabhu said Thursday.

"The draft policy will be placed to seek stakeholders views," he said here while inaugurating LOGIX India 2019.

The commerce minister said that workshops will be organised to seek views on the draft.

The proposed policy would also focus on increasing the warehousing capacity and identify gaps that could be bridged to bring down the cost of logistics for traders.

High logistics cost impacts competitiveness of domestic goods in the international markets.

The commerce ministry is working on several steps, including development of a national logistics portal, to boost both domestic and foreign trade.

The main departments involved in the process include railways, shipping, road transport, civil aviation and customs.

Prabhu also said that improvement in logistics sector would help boost trade and economic development.

The three-day LOGIX-India 2019 programme is being organised by the Federation of Indian Export Organisations (FIEO).

FIEO President Ganesh Kumar Gupta said that logistics companies from about 27 countries are participating in the programme.