Due to massive expenditures in technology, soft and hard infrastructure, and both, India has moved up six spots in the World Bank's Logistic Performance Index for 2023. This gain in port performance has also helped the country's overall standing.

According to the report, India's rank in the index of 139 countries has risen to 38 from 44 in 2018.

In the 2018 report, individual countries were ranked separately. The research emphasised investments made by the Indian government in trade-related soft and hard infrastructure, highlighting how these investments have facilitated the connection between port gateways on both coasts and the economic centres in the interior.

India rose from 44 in 2018 to 22 in 2023, a considerable improvement in its position for foreign shipments. In terms of logistics proficiency and equity, the nation advanced four spots to position 48.

In terms of timelines, India saw a significant improvement, moving up 17 places in the rankings. Additionally, India improved three places in tracking and tracing, now ranking at 38.

"End-to-end supply chain digitalisation, especially in emerging economies, is allowing countries to shorten port delays by up to 70% compared to those in developed countries. Moreover, demand for green logistics is rising, with 75% of shippers looking for environmentally friendly options when exporting to high-income countries," it added.

“While most time is spent in shipping, the biggest delays occur at seaports, airports, and multimodal facilities. Policies targeting these facilities can help improve reliability," said Christina Wiederer, senior economist, the World Bank group’s macroeconomics, trade & investment global practice and the report’s co-author.

Image source: Bloomberg