Business Across Borders 2022

17 Despite its size and importance to economic growth, India’s supply chain confronts a number of roadblocks to expansion, including an imbalanced logistics modemix, high indirect costs, fragmented infrastructure and networks and low technology adoption. The Confederation of Indian Industry (CII) and Arthur D. Little published a report (2020) that outlines a Vision 2030 for the Indian Supply Chain, focusing on logistics costs, optimizing the logistics modal mix, automating 80-90% of supply chain processes, creating Omni-channels, and moving toward green supply chains. And AI, ML, Blockchain, and IoT, Analytics, Robotics, AR, VR, Cyber Security, 3D Printing, and Additive Manufacturing are the means of revolutionizing the logistics industry. The government has implemented digitization steps including: • Express Cargo Clearance System (ECCS): For express delivery, and the single window interface for trade (of customs) for electronic data exchange across numerous agencies participating in customs clearance have also made business procedures easier. It has helped to increase trade volumes, eliminate paperwork, and reduce dwell times, resulting in shipment clearance in a matter of hours To boost the sector, an outlay of approximately ` 1 bn has been announced for the Gati Shakti master plan to accelerate transportation development and logistics infrastructure in the country. This will support a faster ‘reach to market’ for the Indian manufacturing sector, which is also expanding under the Atmanirbhar Bharat initiative. National Logistics Policy is further designed to promote the movement of goods with a focus on digitization initiative, process re-engineering, multi- modal transport, & EXIM trade which will further provide an impetus to trade. The Way Forward India is pursuing to become amajor player in the global trade by implementing a strategic framework encompassing targeted policy interventions, infrastructure development, improving coordination among various agencies/ ministries, investment in the technology and innovation, etc. The focus on structural measures to lower the cost of doing business and encourage MSMEs to increase the country’s exports will provide further impetus to India’s exports. Besides, improvement in the logistics infrastructure and thrust on the domestic manufacturing of shipping containers will help in reducing structural bottlenecks for exports. Dun & Bradstr et