Owing to major investments in technology, soft and hard infrastructure, and both, India has moved up six spots in the World Bank's Logistic Performance Index 2023, which has helped the country's port performance.
As perm a report, India's rank in the index of 139 countries has risen to 38 from 44 in 2018. Individual countries were ranked separately in the 2018 study. The report highlighted investments made by the Indian government in trade-related soft and hard infrastructure, which have aided in tying port entrances on both coasts to the hinterland's commercial centres.
India moved up significantly in the rankings for foreign shipments in 2023, rising from 44 in 2018 to 22. The country also climbed 4 places to rank 48 in logistics competence and equality. India has improved its timeliness, climbing 17 places in the rankings. India moved up 3 spots in the monitoring and tracing rankings, moving up to position 38. "End-to-end supply chain digitalization is enabling countries to reduce port delays by up to 70% when compared to those in rich economies, especially in emerging economies. In addition, there is a growing demand for green logistics, with 75% of shippers seeking for green choices when exporting to high-income nations, it continued.
"Although shipping takes up the majority of time, seaports, airports, and multimodal facilities have the most delays. Policies aimed at these facilities may assist to increase reliability, according to Christina Wiederer, a senior economist with the macroeconomics, trade, and investment global practise of the World Bank group and a co-author of the report.
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