India has upgraded its ranking in the World Bank’s Logistic Performance Index (LPI) 2023 by 6 places, due to major expenditures made in both hard and soft infrastructure, as well as technology, which has improved the functioning of the nation’s ports. India’s position in the Index of 139 Nations has reportedly improved, moving up from forty-four in 2018 to thirty-eight.
In the 2018 analysis, various nations received distinct rankings. The study focused on the government of India’s investments in trade-related soft and hard infrastructure, emphasising how these investments have made it easier to connect the port gateways on both coasts with the interior commercial areas.
India’s position for foreign shipments increased markedly in 2023, rising to twenty-two from forty-four in 2018. The nation improved four positions to rank 48 in terms of logistical competence and equity.
The nation improved four positions to rank 48 in terms of logistical competence and equity
India made a substantial increase in the rankings, moving up 17 spots in terms of timeliness. India presently holds the 38th position in tracing and tracking after moving up three positions. India rose from position 44 in 2018 to position 22 in 2023 in terms of international shipments. In terms of equity and logistics proficiency, the nation moved up 4 spots to position 48. India made a substantial jump in the rankings for the timeliness, moving up 17 places. In the tracing and tracking, India advances three positions and now holds the 38th position.
When compared to affluent nations, port delays can be reduced by up to 70% thanks to end-to-end supply chain digitalization, particularly in emerging economies. In addition, 75% of shippers seek for environmentally friendly choices when exporting to high-income countries, indicating a growing need for green logistics. The biggest delays happen at multimodal facilities, seaports, and airports even though shipping takes up the majority of the time. Christina Wiederer, a senior economist, and the macroeconomics, trade, and investment global practise of the World Bank Group believe that policies aimed at these facilities can improve reliability.
India’s position in the Index of 139 Nations has reportedly improved, moving up from forty-four in 2018 to thirty-eight
The rise in India’s position in the 2023 Logistics Performance Index is encouraging for the country’s logistics industry, which has always been crucial to the country’s economic development. India’s performance in the index and its competitiveness in international trade can both be enhanced by the government’s continuous focus on developing the nation’s logistics infrastructure and policy.
Improvements in clearance procedures, infrastructure spending, the use of less carbon-intensive freight routes, the use of digital technology, and more energy-efficient warehousing were mentioned by the World Bank as effective strategies.