World Bank’s Logistics Performance Index 2023, India jumps 6 places to Rank 38
World Bank’s Logistics Performance Index 2023: It is a biennial report released by the World Bank since 2010 with an aim to strengthen and streamline the logistics sector across 139 participating countries. Logistics Performance Index 2023 is also important for UPSC Prelims Exam 2023 and UPSC Mains Exam ( GS paper 2- Various governance measures and initiative to develop India’s Logistics sector).
India has climbed six positions to secure the 38th spot among 139 nations in the 7th version of the Logistics Performance Index (LPI 2023) released by the World Bank, indicating an improvement in the country’s logistics ranking.
In 2018, India was placed at the 44th position on the LPI index, but it has now jumped to the 38th spot in the latest Logistics Performance Index 2023 ranking. The country’s performance has seen a remarkable improvement since 2014, when it was ranked at 54th on the Logistics Performance Index (LPI).
The World Bank released the LPI biennially from 2010 to 2018, but due to the COVID-19 pandemic and a reorganization of the index methodology, the report was skipped in 2020 and was finally published as LPI 2023.
Logistics Performance Index (LPI) assesses the ease of building dependable supply chain connections and the underlying structural factors that facilitate it. To evaluate logistics performance, the LPI examines six parameters, which are:
Designed as an interactive benchmarking tool, the LPI aims to assist countries in identifying the obstacles and prospects that they encounter in their trade logistics performance and help them devise strategies to enhance their overall performance. The LPI comprises of two main components.
National Logistics Policy (NLP) 2022 Released
LPI 2023 is a report published by the World Bank that assesses the logistics performance of 139 countries based on six parameters.
The six parameters considered in LPI 2023 are:
• Customs performance
• Infrastructure quality
• Ease of arranging shipments
• Logistics services quality
• Consignment tracking and tracing
• Timeliness of shipments
LPI 2023 is the latest edition of the report that was previously published every two years, but was skipped in 2020 due to the COVID-19 pandemic. LPI 2023 also includes new indicators derived from big datasets that track shipments, enabling the measurement of trade speed.
India is ranked 38th out of 139 countries in LPI 2023, moving up six places from the previous ranking in 2018.
According to the report, India's improved logistics ranking can be attributed to the initiatives taken by the government since 2015 to improve logistics efficiency, especially in areas like infrastructure and international shipments.
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