DMICDC signs pact to enhance supply chains efficiency, trim logistics costs

The Delhi Mumbai Industrial Corridor Development Corporation (DMICDC) and NEC have collaborated to provide logistics visualization services that would help to streamline India’s complex logistics supply chains and reduce logistics costs. An official statement said, “India’s rapid economic growth has been causing trouble for the country’s aging logistics infrastructure. Transporting goods around the country takes a long time and there are frequent delays. It is difficult to know exactly where shipments are at any given moment. Wishing to avoid the risk of running out of stock, consignors in the manufacturing industry have tended to overstock their inventories. The added costs of navigating complex logistics supply routes and overstocking have created barriers to attracting foreign investment and enhancing international competitiveness.” Piyush Sinha, CEO of DMICDC Logistics Data Services (DLDS), a joint venture company between DMICDC and NEC also stated, “The logistics cost is probably 13 to 14 per cent of total GDP. This must reduce to 7 to 8 per cent to make our exports more competitive.”