BUSINESS

Centre signs pact with CII for logistics

The Logistics Division of the Commerce Ministry on Tuesday signed an agreement with industry body CII to address challenges facing the country’s logistics sector and help take measures to bring down costs.

Logistics costs in India, at 13-14% of GDP, are higher than those in developed countries. The Ministry said it aimed to establish a Logistics Working Group with a co-chairperson from the CII Institute of Logistics, a centre of excellence working on logistics and supply chain management.

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