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Competitiveness in manufacturing, services improving: Commerce Ministry

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Improvement in India’s ranking in the reflects increasing competitiveness of the country in manufacturing and services, the commerce ministry said.

Competitiveness in manufacturing, services improving: Commerce Ministry
The ministry said the jump in the ranking demonstrates the commitment of various ministries and agencies to make it easy to do business in India

According to a PTI report: India has jumped 19 places in the latest World Bank ranking in the global logistics performance.

The ministry said the jump in the ranking demonstrates the commitment of various ministries and agencies to make it easy to do business in India.

The improvement “is an ample evidence that our competitiveness in manufacturing and services is also improving which will provide the required boost to the ‘Make in India’ programme,” the ministry was quoted by PTI as saying.

It said global trade depends on logistics and how efficiently countries import and export goods determine how they grow and compete in the global economy.

Countries with efficient logistics can easily connect firms to domestic and international markets through reliable supply chains, it said inefficient logistics led to high costs – both in terms of time and money – in international trade and global supply chains.

The World Bank studies the policy regulation as well as supply chain performance outcomes across six sub-indices of the Logistics Performance Index and ranks countries based on their performance in all the indices.

It is a perception survey based on the feedback of operators on the ground as they are the people who can best assess the aspects of logistics performance.

Feedback of companies responsible for moving goods around the world like multinational freight forwarders and express carriers is taken on a structured online survey.

It said among the six sub-indices of the Logistics Performance Index, India improved the most on the efficiency of customs and border management clearance, jumping from 65 in 2014 to 38 in 2016.

“Recent reforms at customs, such as the introduction of a Single Window Interface for Trade and electronic messaging system between shipping lines and custodians for electronic delivery order…extension of 24×7 customs clearance facilities, removal of limit on the number of consignments released under direct delivery etc, have resulted in improvement in the indicator,” it was further quoted by PTI as saying.

India has also improved significantly in the following sub-indices such as ability to track and trace consignments, quality of trade and transport infrastructure, and competence and quality of logistics services.