World bank announced Logistics Performance Index-2016

The World Bank has recently released a Logistics Performance Index (LPI) 2016 report titled “Connecting to Complete 2016“.

Key facts:

• The Logistics Performance Index Report is published by World Bank every two years.
• The Logistics Performance Index (LPI) is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.
• The LPI is based on a worldwide survey of stakeholders on the ground providing feedback on the logistics “friendliness” of the countries in which they operate and those with which they trade.
• They combine in-depth knowledge of the countries in which they operate with informed qualitative assessments of other countries where they trade and have experience of global logistics environment.

Highlights of the report:

•  India has now been ranked 35 amongst 160 countries.
• In terms of the six-components of the LPI i.e. Customs, Infrastructure, International Shipments, Logistics Quality and Competence, Tracking and Tracing, and Timeliness, India’s ranking is 38, 36, 39, 32, 33 and 42 respectively.
• Improvement in India’s rank in Logistics Performance Index adequately establishes steady performance in India’s competitiveness in manufacturing and trade that also acts as one of the growth driver of Make in India Programme.