In a major achievement, India has reached the 38th spot on World Bank's Logistics Performance Index. Certainly the improvement in country's ranked is spectacular. It is noted that the position of India in 2014 was ranked 54th.
Prime Minister Narendra Modi has praised the trend and has said that it is due to government reforms and focus on improving logistics infrastructure. PM tweeted, " An encouraging trend, powered by our reforms and focus on improving logistics infrastructure. These gains will reduce costs and make our businesses more competitive."
Top Five Countries
- 1st-Singapore
- 2nd-Finland
- 3rd-Denmark
- 4th-Germany
- 5th-Netherlands
What is World Bank's Logistics Performance Index?
As we know, the supply chain reliability is key to logistics performance on the front of economic and commercial activity. If we consider across the global environment, consignees require a high degree of certainty as to when and how deliveries will take place as it is the crucial for the overall development of the process.
The, the Logistics and transport increasingly play an integral role in global trade relations. The Logistics Performance Index (LPI) is a logistics capacity index which analyses differences between countries in terms of customs procedures, logistics costs and the quality of the infrastructure for overland and maritime transport.
Logistics Performance Index (LPI) is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance. The LPI is based on two components:
First, a worldwide survey of international logistics operators on the ground (global freight forwarders and express carriers), providing feedback on the logistics “friendliness” of the countries with which they trade. The International LPI 2023 allows for comparisons across 139 countries.
The second component of the LPI is based on granular high frequency information on maritime shipping and container tracking, postal and air freight activities that was collected and made available to LPI by several data partners.
How is Logistics Performance Index (LPI) calculated?
According to reports, the Logistics Performance Index (LPI) is prepared on the basis on a worldwide survey of operators on the ground (global freight forwarders and express carriers) and providing feedback on the logistics “friendliness” of the countries in which they operate and those with which they trade.
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