Daily Current Affairs Article 21th January 2021: Union Minister of Railways; Commerce & Industry; Consumer Affairs and Food & Public Distribution Shri Piyush Goyal addressed the 1st National Conference of States on Logistics.
He said that National Logistics Policy, which is under consultation, along with the National Logistics Council and State Logistics Coordination Committee, will work as a template for better coordination and integrated development for logistics centre.
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The Minister said that Logistics is all about 5R's: Getting the Right product - In the Right condition - At the Right place - At the Right time - To the Right customer.
India has a $200 billion logistics ecosystem. A good part of it is supported by the Indian Railways.
Citing studies, the minister said that about 13-14 per cent cost of a product is logistics, and "we wish to bring it down to about 8 per cent".
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