To ensure ease of trading in the international and domestic markets, the Ministry of Commerce and Industry is developing a National Logistics Portal. Early this year, the finance minister in his budget speech had announced that the Department of Commerce will create a single window online market place.
The portal will link all the stakeholders of EXIM, domestic trade and movement and all trade activities. Stakeholders like traders, manufacturers, logistics service providers, infrastructure providers, financial services, Government departments and groups and associations will all be on one platform.
India’s logistics sector is very complex with more than 20 government agencies, 40 partnering government agencies (PGAs), 37 export promotion councils, 500 certifications, 10000 commodities, 160 billion market size. It also involves 12 million employment base, 200 shipping agencies, 36 logistic services, 129 ICDs, 168 CFSs, 50 IT ecosystems and banks & insurance agencies. Further, 81 authorities and 500 certificates are required for EXIM. The portal will be implemented in phases and will fulfil the commitment of the Government of India to enhance trade competitiveness, create jobs, boost India’s performance in global rankings and pave the way for India to become a logistics hub.