India jumps 19 places in World Bank's global logistics performance ranking
Posted on: 29 Jun 2016 17:49:57
29 June 2016 Current Affairs: India has jumped 19 places in the latest World Bank ranking in the global logistics performance, reflecting the improvement in movement of goods inside the country thus facilitating better trade.
The World Bank in its latest once-in-two-year Logistics Performance Index (LPI) said India is now ranked 35th as against the 54th spot it occupied in the previous 2014 report.
Logistics organises the movement of goods through a network of activities and services operating at global, regional, and local scale.
In the 2014 report, India had a LPI score of 3.08, which increased to 3.42 in 2016. For the third time, Germany with 4.23 points tops the ranking, followed by Luxembourg (4.22), Sweden (4.20), Netherlands (4.19) and Singapore (4.14).
Other countries in top 10 are Belgium, Austria, United Kingdom, Hong Kong and the United States. Japan is ranked 11. China has jumped one spot to be ranked 27th while Pakistan is at 68th. Syria ranked lowest.
Logistics performance both in international trade and domestically is central to countries' economic growth and competitiveness .
Efficient logistics connects people and firms to markets and opportunities, and helps achieve higher levels of productivity and welfare. Unfortunately, the logistics performance gap between rich and poor countries continues and the convergence trend experienced between 2007 and 2014 has reversed for the least performing countries .
The report ranks countries on a number of dimensions of supply chain performance, including infrastructure, quality of service, shipment reliability, and border clearance efficiency.
According to the report, over the past six years, the world's top-10 performers have remained consistent and include dominant players in the supply chain industry.
However, for the first time in the history of the Connecting to Compete reports, landlocked countries are no longer automatically disadvantaged, as shown by the performances of both Rwanda and Uganda, which benefit from regionally coordinated efforts to improve trade corridors. Gonzalez said building on a rich set of information, the report shows that improving logistics performance is a complex, unfinished, cross-cutting, and evolving agenda. The priorities depend on country performance.
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