Government Initiatives
- The Ministry of Commerce and Industry’s logistics division: It was recently created to coordinate the sector’s integrated development through changes to policies, enhancements to current practices, detection of bottlenecks and gaps, and the introduction of technology-based solutions.
- Portal for integrated logistics: To establish contact between buyers, logistical service providers, and pertinent government organisations.
Increased credit availability: Reclassification of the logistics industry to become a portion of the infrastructure industry has given it access to long-term funding. - Streamlining procedures: The approval procedure for MMLP construction is made simpler, and the regulated sector’s market accountability would attract debt and pension funds to engage in approved logistics projects.
MoU for Multi Modal Logistics Park (MMLP)
Modern large-scale warehouse facilities are expected to be developed as part of the Multi Modal Logistic Park project. It is establishing itself as a one-stop shop for all services associated to cargo transit, such as warehousing, customs clearance, parking, truck repair, etc., for all sorts of commodities. It will feature all the necessary amenities, including warehouses, rail sidings, cold storage, a customs clearing house, yard space, workshops, gas stations, truck parking, office space, boarding houses, restaurants, a water treatment facility, etc. The MMLP, which is being created according to a “Hub and Spoke” model, will integrate several modes of freight transportation via inland waterways, railroads, and roadways. The MMLP’s installation of a cutting-edge freight management system will be driven by technology. These projects will include many value-added services, including packaging, repackaging, and labeling. The MMLP will be a facility for handling freight that can be reached by both rail and road.
In order to build Multi Modal Logistics Park (MMLP) as part of the Bharatmala Pariyojana, the National Highways Logistics Management (NHLML), Inland Waterways Authority of India (IWAI), and Rail Vikas Nigam (RVNL) inked a tripartite Memorandum of Understanding. Under the Bharatmala Pariyojana, a tripartite MoU was inked to hasten the establishment of a contemporary Multi Modal Logistics Park (MMLP). The Bharatmala Pariyojana, an initiative of the Indian government, calls for the rapid creation of sophisticated Multi Modal Logistics Parks (MMLP) throughout the nation. The goal is to consolidate freight centrally and lower logistics spending from 14% of GDP to less than 10%, in line with international standards.