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The logistics sector is changing fast across the globe and logistics performance is envisioned as the key to economic growth and competitiveness. The nature of demand, type of players, use of modern technologies, on-time deliveries, new risks, and policy concerns have given an entirely new dimension to logistics, which was earlier pursued as a simple movement of goods from one point to another. Logistics has an important bearing on the performance, economic development and integration of a country.
The role of logistics in the global economy is better recognized today than it was 10 years ago. Today, logistics encompasses regulation of services, sustainability, and resilience. It comprises an array of activities beyond transportation, including warehousing, material handling, packaging, timely dispatch, siding and terminal operations, and related data and information management.
Supply chain reliability is the key to logistics performance. In a global environment, consignees require a high degree of certainty as to when and how deliveries will take place. Reliability and speed are the foundations of a successful logistics network. Good logistics services also reduce the final cost of the product and transaction as a whole.
World Bank’s Logistics Performance Index which ranks every country on the basis of their customs, infrastructure, ease of arranging shipments, quality of logistics services, timeliness, and tracking and tracing; has ranked India 44th with a score of 3.18. In comparison, India’s major trading partners like Germany, US, European countries, Japan, Korea, Vietnam, Thailand, Malaysia are ranked better because of their superior logistics arrangements.
Indian steel and mineral industry which is looking at 300 million tons of steel production and approximately 200 million tons of finished steel movement, along with another 500 million tons of raw material movement has to be more competitive and efficient in time to come. Keeping in view the need of the hour to upgrade Indian logistics, Metalogic organized this conference on Modern Logistics for Indian Metals & Raw Material Industry.
Commemorating its 60th year of formation, NMDC in association with Federation of Indian Chambers of Commerce & Industry (FICCI) and Metalogic organized an International Conference on “Minerals & Metals Outlook 2030” on October 9-10, 2018 at Hotel Taj Diplomatic, New Delhi.
The key objective of the event is to have discussions on Minerals and Metals industries. The programme will also witness a Global CEO Session and Country Panel Discussion, having participation from top CEOs and Country Heads deliberating on the future of minerals and metals worldwide.
As is widely known, India is well endowed with most of the minerals. It produces 95 minerals, including fuel, atomic, metallic & non-metallic and minor minerals. India’s mining sector offers tremendous potential and presents a vast opportunity for investors to mine the unexplored region.
Also, with rapid pace of urbanization in the country, it is expected that there will be steadily increasing demand for mineral and metals, especially from infrastructure and manufacturing sectors. With its vast minerals resource base, it is not an uphill task for India to leverage its mineral and metal processing potential, provided that all the concerned stakeholders, from the domestic and the international community come together, to boost the mineral and metals' production in the country in a planned and sustainable manner.
Indian Iron & Steel industry is unique in the world. It has to bear the brunt of one of the most complicated tax structures globally and at the same time it has to be competitive and ready to cater to a promising demand which is likely unleash in the coming years.
Policies like Steel Policy, DMI&SP and upcoming scrap policy have given it the much-needed momentum while certain imports and global trade barriers are curtailing its wings of freedom.
Nevertheless, nearly all the major Indian steel companies are among the top 35 in the world. Indian steel is proud to be one of the world’s most competitive industries and will strive hard to retain its position in the years to come.
Time and again, the industry unites under a common platform to discuss and deliberate on the issues impacting their growth, catalysts which can promote their success and concerns which need to be addressed immediately. Policy makers listen to the industry leaders, attain views from the experts and carry with them a wide range of suggestions which can be meticulously worked upon for the betterment of the industry.