New logistics portal and policy to give boost to exports: FIEO

The new logistics portal and upcoming national policy would help boost the country's export growth, an industry association said Saturday.

Federation of Indian Export Organisations (FIEO) President Ganesh Kumar Gupta said that the sector assumes significance as reduction in logistics cost and time would help promote competitiveness of domestic products in global markets.

The commerce ministry is expected to unveil soon a comprehensive logistics policy and a portal for the sector.

"Logistics plays a key role in boosting exports," he said while addressing the closing function of three-day logistics show Logix India here.

Over 130 logistics companies and their delegates from 27 countries participated at this event and exchanged business prospects and opportunities to make Indian logistics sector global, he added.

Besides these, FIEO also signed MoUs with Ceylon National Chamber of Industries and Kabul Chamber of Commerce and Industries to further promote commerce and trade.

The department of commerce is working on setting up a logistics portal and formulating a national logistics policy. Speaking at the function, Special Secretary in the department of commerce N Sivasailam said that huge business opportunities exists for global companies in this sector in India.

Ajay Sahai, DG and CEO, FIEO said that Logix India 2019 has provided a networking platform for all the stakeholders including SMEs.

"The draft comprehensive logistics policy and portal, which will be unveiled soon, will add to furtherance and efficiency of the logistics industry in the country," he added.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)