Consider the following statements 1 The Logistics Performanc...........

Economic Affairs World Bank and IMF

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Consider the following statements:

1. The Logistics Performance Index (LPI) is a publication of the World Bank.

2. In the LPI, India’s ranking declined in 2018 when compared to its position in the previous edition of the report.

3. India’s logistics cost is at about 10 per cent of the GDP.

Which of the statements given above is/are correct?

1 only

1 and 2 only

3 only

1 and 3 only

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Explanation:

“India has moved from the 54th position in 2014 to 44th in 2018 (it ranked 35th in 2016) in the World Bank’s biennial Logistics Performance Index. Logistics costs have been one of the biggest stumbling blocks for Indian manufacturers eyeing exports. At about 13-14% of GDP, India’s logistics cost is high, and compares with about 8% in advanced nations that have efficient systems… The Centre has made clear its intention to bring down this cost to less than 10%, which would make Indian manufacturers globally relevant.”