New Delhi, Sep 21 (IANS): The Union Cabinet on Wednesday approved the National Logistics Policy, which had been announced by Prime Minister Narendra Modi on September 17, and aims to reduce the cost of logistics in the country, bringing it at par with global benchmarks by 2030.

Minister for Information and Broadcasting Anurag Thakur told media persons after the Cabinet meeting that the policy will help improve the Logistics Performance Index ranking of the country, aiming to bring India among top 25 countries by 2030.

Also, it will help create a data-driven support mechanism for an efficient logistics ecosystem.

The policy lays down an overarching interdisciplinary, cross-sectoral, multi-jurisdictional, and comprehensive policy framework for the logistics sector. The policy complements the PM GatiShakti National Master Plan.

While the PM GatiShakti National Master Plan is aimed at integrated infrastructure development, the National Logistics Policy is envisaged to bring efficiency in logistics services, and human resources through streamlining processes, regulatory framework, skill development, mainstreaming logistics in higher education and adoption of suitable technologies, an official statement said.

The vision is to develop a technologically enabled, integrated, cost-efficient, resilient, sustainable and trusted logistics ecosystem for accelerated and inclusive growth.

The policy has been developed through a consultative process wherein several rounds of consultations were held with various Union ministries and industry stakeholders, taking cognizance of global best practices, official sources said.

All states have been taken on board for the scheme as 14 of them have already developed their respective state logistics policies on the lines of the National Logistics Policy, while 13 states' plans are in drafting stage, official sources added.