National Logistics Policy (NLP) was launched in the year _____ and aims to lower the cost of logistics from the existing 13-14% and lead it to par with other developed countries. 

The correct answer is 2022.

Key Points

• The National Logistics Policy (NLP) was launched by the Government of India in September 2022.
• The NLP aims to reduce the cost of logistics in India from the current 13-14% of GDP to a level that is comparable to developed countries.
• The policy focuses on improving logistics efficiency and reducing associated costs to enhance the competitiveness of Indian goods in the global market.
• Key components of the NLP include digitization, enhanced warehousing, and improved regulatory frameworks.

Additional Information

• Logistics Performance Index (LPI)
  • The LPI is an interactive benchmarking tool created by the World Bank to help countries identify the challenges and opportunities they face in their performance on trade logistics.
  • It evaluates countries across six dimensions: customs performance, infrastructure quality, ease of arranging shipments, quality of logistics services, tracking and tracing, and timeliness of shipments.
• Gati Shakti National Master Plan
  • Launched by the Indian government, it aims to improve multi-modal connectivity and logistics efficiency across the country.
  • It integrates various infrastructure schemes to ensure coordinated planning and execution of projects.
• Digitization in Logistics
  • Involves the use of digital technologies like IoT, AI, and blockchain to enhance supply chain visibility and efficiency.
  • Helps in real-time tracking of goods, reducing delays, and improving inventory management.
• Warehousing and Storage
  • Critical for ensuring the smooth functioning of the logistics sector by providing storage solutions for goods.
  • Modern warehousing includes the use of automated systems for handling and managing inventory.