New Delhi, Ministry of Commerce and Industry and the World Bank will conduct a workshop to identify specific interventions required to streamline logistics in the country with an aim to integrate Indian products into global value chains.
The decision was taken at a meeting between Commerce Minister Suresh Prabhu with a World Bank team here on Thursday. The World Bank team was led by Regional Integration and Investment Climate Director of Trade Caroline Freund and Country Director for the World Bank in India Junaid Ahmad.
During the meeting , discussions were held to explore ways to strengthen World Bank support towards India’s development with collaboration in specific areas of trade, logistics and investment, an official statement said.
Mr Prabhu briefed the World Bank team about the work being done by the Commerce Ministry for developing a National Integrated Logistic Policy (NILP).
He said the Policy will focus on increasing the capacity of storage and warehousing and other value added services. Multimodal logistics parks, integrating various transportation modes, are also being developed right up to the district level, he said.
The Minister also highlighted the work being done by the Ministry towards identifying specific products and markets to increase India’s exports by $ 100 bn.
He underlined the need for understanding product specific supply chains for India to integrate effectively into global supply chains. The (NILP) will reduce the cost of goods and make Indian product more competitive.