There is a need to understand product specific supply chains for India to integrate effectively into global supply chains, according to Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu.
He made these comments while a meeting with the World Bank team in New Delhi yesterday. The team was led by Caroline Freund, Director of Trade, Regional Integration and Investment Climate and Junaid Ahmad, Country Director for the World Bank in India. Discussions were held to explore ways to strengthen World Bank support towards India's development with collaboration in specific areas of trade, logistics and investment. The Minister highlighted the work being done by the Ministry for developing a National Integrated Logistic Policy (NILP). The Policy will focus on increasing the capacity of storage and warehousing and other value added services. Multimodal logistics parks, integrating various transportation modes, are also being developed right up to the district level. The Minister also highlighted the work being done by the Ministry towards identifying specific products and markets to increase India's exports by USD 100 bn. He underlined the need for understanding product specific supply chains for India to integrate effectively into global supply chains. The (NILP) will reduced the cost of goods and make Indian product more competitive.
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