India’s improvement in logistics is a proof of its steady performance in competitiveness in manufacturing and trade, the Finance Ministry said today, citing a World Bank report. India has leapfrogged 19 spots to 35th position on the World Bank’s Logistics Performance Index (LPI), 2016.
“Improvement in India’s rank on the Logistics Performance Index adequately establishes steady performance in our competitiveness in manufacturing and trade that also acts as one of the growth drivers of Make in India programme,” the Finance Ministry said in a statement.
Among 160 countries, India has been ranked 35th compared with 54 in 2014, as per the recently released report titled ‘Connecting to Complete 2016’.
The report is published by the World Bank every two years. Further, in terms of six components of LPI — Customs, infrastructure, international shipments, logistics quality and competence, tracking and tracing, and timeliness — India’s ranking stood at 38, 36, 39, 32, 33 and 42, respectively.
The logistics index is an interactive benchmarking tool to help countries identify challenges and opportunities in trade logistics and how they can improve their performance.
It is based on a world-wide survey of stakeholders on the ground providing feedback on the logistics friendliness of the countries in which they operate and those with which they trade.
They combine in-depth knowledge of the countries in which they operate with informed qualitative assessments of other countries where they trade and have experience of global logistics environment.
Inputs from such stakeholders are supplemented with quantitative data on the performance of key components of the logistics chain in the country.