1st National Conference Of States On Logistics

1st National Conference Of States On Logistics

Part of: GS Prelims and GS-III – Economy

In news 

• Union Minister of Commerce & Industry recently addressed the 1st National Conference of States on Logistics.

Key takeaways

• National Logistics Policy, which is under consultation, along with the National Logistics Council and State Logistics Coordination Committee, will work as a template for better coordination and integrated development for logistics centre.
• Logistics consists of 5R’s: Getting the Right product – In the Right condition – At the Right place – At the Right time – To the Right customer.

Do you know?

• India has a $200 billion logistics ecosystem. 
• A good part of it is supported by the Indian Railways.
• About 13-14% cost of a product is logistics, and Ministry shall work towards bringing it down to about 8%.