Focus: GS III: Indian Economy
Why in News?
The Gati Shakti, a National Master Plan for multimodal connectivity has significantly contributed to the improvement of India’s rank in World Bank’s Logistics Performance Index Report 2023.
- India ranks 38 out of 139 countries on World Bank’s Logistics Performance Index Report 2023
- India’s rank has improved by six places from 44 in 2018 and sixteen places from 54 in2014.
About PM Gati Shakti:
- It will incorporate the infrastructure schemes of various Ministries and State Governments like Bharatmala, Sagarmala, inland waterways, dry/land ports, UDAN etc.
- Economic Zones like textile clusters, pharmaceutical clusters, defence corridors, electronic parks, industrial corridors, fishing clusters, agri zones will be covered to improve connectivity & make Indian businesses more competitive.
- It will also leverage technology extensively including spatial planning tools with ISRO imagery
- developed by BiSAG-N (Bhaskaracharya National Institute for Space Applications and Geoinformatics).
- The multi-modal connectivity will provide integrated and seamless connectivity for movement of people, goods and services from one mode of transport to another.
- It will facilitate the last mile connectivity of infrastructure and also reduce travel time for people.
- PM GatiShakti will provide the public and business community information regarding the upcoming connectivity projects, other business hubs, industrial areas and surrounding environment.
- This will enable the investors to plan their businesses at suitable locations leading to enhanced synergies.
- It will create multiple employment opportunities and give a boost to the economy.
- It will improve the global competitiveness of local products by cutting down the logistics costs and improving the supply chains, and also ensure proper linkages for local industry & consumers.
About Logistics Performance Index (LPI):
- The Logistics Performance Index (LPI) is released by the World Bank.
- 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.
- 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.