JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
India's logistic costs declined by almost 1 per cent last decade. Costs ranged between 7.8 per cent and 8.9 per cent during 2021-22, down from 8.7 per cent and 9.9 per cent during 2011-12, according to a report by think tank National Council of Applied Economic Research (NCAER) and the Department for Promotion of Industry and Internal Trade (DPIIT). This 1 per cent decline may look insignificant, but in pure macroeconomic terms it is worth a thumbs up. Logistics cost has serious implications on the country’s manufacturing sector, export competitiveness and global positioning.
The country has seen serious efforts by all stakeholders in the public and private domains to understand the significance of this cost and to reduce the same. The essential components of logistics cost estimation – (i) transportation cost, (ii) warehousing and storage cost, auxiliary support services cost, (iii) Packaging cost, insurance cost, and (iv) other administrative/ operations cost – were identified.
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