 "cargo")
India will launch an app that will enable companies to track live their cargo moving over land, rail, sea, and air, according to a report by the Economic Times (ET). The app has garnered interest from over 700 companies in courier, logistics, shipping, and manufacturing. These companies have signed up on the app that will be launched soon by the government.
This app aims to enhance tracking capabilities, providing real-time visibility into the movement of trucks, trains, and air couriers. This initiative is part of India's plan to streamline logistics, and reduce costs. India's logistics cost in Financial Year 2022 was 7.8-8.9 per cent of the country's gross domestic product (GDP). India wants to bring this down to 5-6 per cent. This app also aligns with India's broader plan to improve its ranking in the World Bank's Logistics Performance Index, which currently stands at 38, to below 25.
Reports said the app will be launched soon, however, the exact date of the launch and name of the app are still unknown. It is reportedly being developed by the National Industrial Corridor Development Corporation (NICDC), which will use specific tracking codes to track and trace consignments. They will also measure the reliability of consignment movement to provide real-time tracking details and vehicle visibility. This visibility is crucial as it would significantly lower lead time for the import-export cycle. This in turn would reduce inventory carrying costs, as well as improve empty container management.
The government is also separately working on ways to reduce the movement of empty trucks and containers. This will improve overall efficiency of logistics and reduce operations and maintenance costs.
