nd str and n rastr        t re    9.41
               The Surya Mitra: This scheme was               the sector has remained ‘unexplored’ in India. As
               launched in May 2015 for creating              per the latest Economic Survey 2017-18, major
               50,000 trained personnel within a period       statistics which highlight the importance of India’s
               of five years (2015-16 to 2019-20).            logistics sector are as given below:
           In addition to the above, major policy                        India’s logistics industry is around US$
     initiatives taken by the government up to March                     160 billion worth and has a compound
     2016 include:                                                       annual growth rate (CAGR) of 7.8 per
           (i) National Offshore Wind Energy Policy                      cent during last five years.
               2015 to exploit the vast 7600 km coastline                With the implementation of GST, the
               for development of offshore wind energy                   Indian logistics market is expected to
               in the Indian Exclusive Economic Zone                     reach about US$ 215 billion in 2020,
               (EEZ),                                                    growing at a CAGR of 10.5 per cent.
          (ii) Inclusion of renewable energy in the                      It provides employment to more than 22
               priority sector and bank loans up to Rs.                  million people.
               15 crore limit to borrowers categories                    With a 10 per cent cut in the cost of
               for purposes like solar-based power
                                                                         logistics exports are estimated to grow by
               generators, biomass- based power
                                                                         5-8 per cent.
               generators, windmills, micro-hydel plants
               and for nonconventional energy-based                Though, in terms of overall performance India
               public utilities like street lighting systems, jumped to 35th rank (from 54th in 2014) in the
               and remote village electrification. For        latest Logistics Performance Index-2016 (World
               individual households this is up to Rs. 10     Bank), the sector faces numerous challenges which
               lakh per borrower.                             need immediate attention form the Government:
        (iii) Investments in renewable energy are                        High cost impacting domestic and global
               on automatic route, i.e. automatic                        competitiveness,
               approval for up to 74 per cent foreign                    Under-developed material handling
               equity participation in a JV and 100                      infrastructure,
               per cent foreign investment as equity                     Fragmented warehousing, multiple
               is permissible with the approval of the                   regulatory and policy making bodies,
               Foreign Investment Promotion Board                        Lack of seamless movement across modes,
                                                                         Lack of integrated IT infrastructure and
         (iv) Approval to the amendments in the                          modern technology.
               National Tariff Policy 2005, for
                                                                   Government has identified the action
               promotion of renewable power.
                                                              points to develop this sector in an integrated
                                                              way. These action points are—adopting new
        logIstIcs sector                                      technology, improved investment, skilling,
     Logistics is the backbone of supply chain                removing bottlenecks, improving intermodal
     (management of flows of goods from the point             transportation, automation, single window system
     of origin to the point of consumption). It               for giving clearances, and simplifying processes. To
     includes transportation, inventory management,           strengthen the sector the Government has created
     warehousing, materials handling, packaging, and          a new Logistics Division (in the Department
     integration of information. Largely ‘unorganised’,       of Commerce). The sector has been put in the