On 17th September 2022, Hon Prime Minister of India, Shri Narendra Modi, launched the new National Logistics Policy 2022. This new policy will greatly empower the logistics and trade sector of our nation and also boost our economy greatly. It will also have a positive impact on sectors like tourism and real estate as well.
So what is National Logistics Policy 2022? What makes it different from the existing plans? And How does it help Real Estate?
National Logistics Policy 2022 aims to bring in a unified system that incorporates the multiple modes of logistics & travel, documentation process, tracking, and permissions into a single platform.
This new framework blends all the major nodes of India, such as the highway road network, Railways, Waterways, and Airways, together. This kind of massive logistics streamlines the time, safety, and efficiency at a go. It will also help in overall employment generation and upskilling of the workforce.
Narendra Modi said that this policy would focus on bringing the Logistics cost of 13-14% to a single digit. The Gatishakti Initiative will further boost the New National Logistics policy with infrastructural development.
The roadways will upgrade from the existing point to point model where the trucks will be carrying the goods into and will move onto the Hub & Spoke Model format where the long distance trucks and overhaul vehicles will be connected to different city hubs. This will rapidly reduce the distance traveled and the costs as well.
The roadways and these hubs will be connected to the railways, airways, and in certain regions, the waterways as well.
The NLP 2022 will create a series of city hubs that help in the warehousing and storage of the goods. Both normal storage and cold storage hubs will ensure the upkeep of all types of goods. These hubs will be connected to the ULIP platform, which will make sure that the goods are properly protected and tracked till the transportation. This will also introduce the E- Logs system to standardize the warehousing and a paperless process of the supply chain management on a pan India level.
The New National Logistics Policy 2022 will bring a whole new digital dimension to the existing framework. This new ULIP or Unified Logistics Interface Platform will integrate multiple nodes, the business, the relevant trade, and government offices together. This helps in the ideal booking, tracking, and scheduling of long distance goods transport.
The ULIP will ensure that any problems or queries will be solved quickly between the different stake holders, such as government agencies and industry associations. This platform will also ease up the process of warehouse and inventory management, as mentioned before.
As the Gatishakti scheme and NLP 2022 comes into the picture, the ordinary roadways and highways will peak into world class levels. Thus the common instances of potholes and random road faults will be reduced, which means that the travel through the same will be eased up.
Furthermore, the multi & intermodal connectivity will reduce the dependence of the supply chain on the roadways, making it very easy for travelers and tourists to reach their destinations via roadways. With more efficient highways, traffic of the goods vehicles will stray clear off the inner or central city roadways reducing the traffic inside.
The increased and efficient modes of transport always ensure the value and the demand for real estate spike up in the areas, especially in Tier 1 & Tier 2 cities. The tourism sector will also boost because of the same. With an increase in tourism, the second homes or vacation homes will see a boost after the hit of Covid-19, furthering the realty prospects of the same.
So folks, what do you think? Do share them below.
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