Logistics Performance Index (LPI) 2023:
India’s rank in the recently released World Bank’s Logistics Performance Index 2023 has improved by six places.
- Logistics Performance Index (LPI) is released by World Bank.
- It is an interactive benchmarking tool created to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance.
- It measures the ease of establishing reliable supply chain connections and structural factors that make it possible, such as the quality of logistics services, trade and transport-related infrastructure, as well as border controls.
Highlights of LPI 2023:
- The LPI 2023 allows for comparisons across 139 countries.
- The LPI 2023, for the first time, measures the speed of trade with indicators derived from big datasets tracking shipments.
- Singapore and Finland are the most efficient and highest-ranked LPI countries as per the 2023 LPI.
- India is ranked 38 out of 139 countries, climbing six places from the previous index.
- Two major factors for India’s jump in the index could be modernisation and digitalisation, which the report quotes as a reason for emerging economies like India to leapfrog advanced countries
