Updated By: LatestGKGS Desk
Department of Commerce signed MoU with CII on 16th January 2018
Department of Commerce signed MoU with CII on 16th January 2018
The Department of Commerce (DoC) has signed a Memorandum of Understanding (MoU) with Confederation of Indian Industry (CII) on 16th January 2018 in New Delhi.
A MoU was signed with the aim to establish a systematic mechanism for the development and progression of logistics sector in India.
Under MoU, both the associations will work together in order to strengthen and expanding logistics sector globally in terms of efficiency and costing in order to fulfill the Government’s intake of reducing logistics cost in the country from the present 14% of GDP to less than 10% by 2022.
The DoC and CII will follow Commerce Ministry’s roadmap for modernising logistics sector that will encourage focused engagement with the industry and collaborate with the concerned agencies including State Government’s and other related agencies.
The MoU will also endeavor compliance focused studies on logistics and promote Government’s policies on logistics.
Logistics portal will also be introduced that will be a transactional e-marketplace for buyers connecting with logistics service providers with all the Government agencies such as Customs, PGAs, Port Community Systems, Sea and Air Port terminals, Shipping lines, Railways etc.
