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Logistics Performance Index (LPI) 2023

Context:

India’s rank in the recently released World Bank’s Logistics Performance Index 2023 has improved by six places.

Relevance:

GS III: Indian Economy

Dimensions of the Article:

  1. Highlights of LPI 2023
  2. About Logistics Performance Index (LPI)

Highlights of LPI 2023:

  • The Logistics Performance Index (LPI) 2023 measures logistics performance across 139 countries, allowing for comparisons.
  • For the first time, the LPI 2023 includes indicators derived from big datasets that track shipment speed, providing a new way of measuring trade efficiency.
  • Singapore and Finland are the top-ranked countries for logistics performance in the 2023 LPI.
  • India has improved its logistics performance, climbing six places from the previous index to rank 38 out of 139 countries.
  • The LPI report suggests that India’s jump in the index could be due to its modernisation and digitalisation efforts, which are helping emerging economies like India to leapfrog advanced countries.

About Logistics Performance Index (LPI):

  • The Logistics Performance Index (LPI) is released by the World Bank.
  • Purpose:
    • It is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.
  • Measures:
    • The LPI measures the ease of establishing reliable supply chain connections and structural factors that make it possible, such as the quality of logistics services, trade and transport-related infrastructure, as well as border controls.

-Source: The Hindu


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