The Cabinet on Wednesday approved a new logistics policy that aims to bring down the share of logistics costs to total costs to single digits from 13-14 per cent.
An official statement said the policy will utilise the existing institutional framework — an empowered group of secretaries (EGoS) created under the PM Gati Shakti national master plan.
EGoS will set up a services improvement group to monitor processes, regulatory and digital improvements in the logistics sector.
The focus will be on enabling adequate development of warehouses, promotion of standards, digitisation and automation across the logistics value chain and better track and trace mechanisms.
Important initiatives include the Unified Logistics Interface Platform (ULIP), the Ease of Logistics Services Platform and e-handbook on warehousing
Semi-conductors
The cabinet also approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme.
The modifications will strengthen the semiconductor scheme thus raising capacities within the country, encouraging investments and creating employment opportunities.
The cabinet also approved a Rs 19,500-crore production linked incentive (PLI) scheme for solar PV modules.