Taking a cue from the latest developments, logistics solutions provider Shreeji Translogistics has announced the renewal of its contract with Singapore Airlines to keep up the pace.
Based in Mumbai, Shreeji Translogistics is a surface logistics and parcel delivery service provider.
According to BSE, this stock has given multibagger returns to its investors. Data shows that stock is up 640 percent in the past two years and 900 percent in three years.
According to a PTI report, India was ranked 44th in the index in 2018 and has now moved up to 38th position in the 2023 list.
India’s performance has improved significantly from 2014, when it was ranked 54 on the LPI.
PM Modi had launched the National Logistics Policy (NLP) to ensure speedy last mile delivery, eliminate transportation related challenges, save time and money of the manufacturing sector and ensure the desired speed in the logistics sector.
Since 2015, the government has invested in trade-related soft and hard infrastructure linking port gateways on both coasts to economic poles in the hinterland.
Union minister Nitin Gadkari recently said that the government is working on reducing logistics cost from the current 14-16 per cent to 9 per cent of GDP in the next three years.
Earlier this year, the Ministry of Commerce and Industry had said that a task force would be set up to prepare a framework for determining logistics costs in the country.