India climbs 38th in World Bank's Logistics Performance Index 2023 #currentaffairs #viral #ytshorts

India climbs 38th in World Bank’s Logistics Performance Index 2023
According to the Ministry of Commerce & Industry, India’s rank in the 7th edition of the World Bank’s Logistics Performance Index 2023 has improved by 6 positions, and it now stands at 38th among 139 countries. The ministry further stated that India has shown significant progress in 4 out of 6 LPI indicator.
The Ministry stated that the Logistics Data Bank project by NICDC, which involves the use of RFID tags on containers and has been implemented in the Western region of India since 2016, and expanded to a Pan India level in 2020, has resulted in significant improvements in cross-border trade facilitation.

Additionally, the project fosters competition among ports by offering data on performance benchmarking, congestion, dwell time, speed, and transit time analysis, according to the Ministry. The Ministry also recognized that initiatives such as Sagarmala and Bharatmala have been instrumental in enhancing India’s logistics efficiency.