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With GST regime and India scaling higher on World Bank’s Logistics Performance Index 2016, the sector is expected to be poised for rapid growth, said JLL India.
India has jumped 19 positions in the Logistics Performance Index (LPI) released recently by the World Bank. The country now stands at the 35th rank among 160 countries, up from the 54th position in 2014.
The World Bank studies policy regulation as well as supply chain performance outcomes across six sub-indices for the index and assigns scores to each country based on their performance in these.
Anuj Puri, Chairman & Country Head - JLL India, said among the six sub-indices, India improved the most on Customs, jumping from 65 in 2014 to 38 in 2016.
Introduction of a ‘Single Window Interface for Trade’ or SWIFT, apart from other recent reforms carried out in Customs, helped India improve in this indicator. This validates the improving regulatory environment and ‘ease of doing business’.
“This is just the beginning of a changing era as India’s strategy to invest in fundamentals is expected to bring in significant changes in the long-term and near future. India’s investment in infrastructure is around 10 per cent of GDP, which is significantly higher than the BRICS block as well as developed economies such as USA and Japan,” said Puri.
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