: DPIIT introduces Unified Logistics Interface Platform (ULIP) LogiXtics to reduce logistic cost #FinanceIndia #StockMarketNEWS DPIIT introduces Unified Logistics Interface Platform (ULIP) LogiXtics

@StockMarketNEWS Tue 21 Dec, 2021

Posted in: #FinanceIndia #StockMarketNEWS

DPIIT introduces Unified Logistics Interface Platform (ULIP) LogiXtics to reduce logistic cost #FinanceIndia #StockMarketNEWS
DPIIT introduces Unified Logistics Interface Platform (ULIP) LogiXtics to reduce logistic cost New Delhi, 17 Dec (KNN) To help the logistics industry in crowdsourcing more ideas, the Department for Promotion of Industry and Internal Trade (DPIIT) has launched the Unified Logistics Interface Platform’s (ULIP) Hackathon – ‘LogiXtics’.

ULIP is designed to enhance efficiency and reduce logistics cost in India by creating a transparent platform that can provide real time information to all stakeholders and remove all asymmetry information, said the press release.

NITI Aayog and Atal Innovation Mission have organised the The ULIP Hackathon – LogiXtics is and is supported by National Industrial Corridor Development Corporation (NICDC) and NICDC Logistics Data Bank Services Limited (NLDSL).

It was launched by Amitabh Kant, CEO, NITI Aayog in the presence of Amrit Lal Meena Special Secretary, Department of Logistics, Ministry of Commerce & Industry and CEO & MD, NICDC; Anna Roy, Senior Advisor, NITI Aayog and Abhishek Chaudhary, Vice President, NICDC.

“Today is a very important day for us because we are trying to solve the biggest problem of logistics in India. The cost of logistics in the India is about 14% which is higher than other countries in the world. ULIP’s objective has been to work with top Indian technology organizations from the private sector and identify solutions to reduce logistics cost,” said Shri Amitabh Kant, launching the Hackathon at a virtual event yesterday.

He further congratulated NICDC for integrating the existing logistics systems of various Ministries/Departments and for the successful launch of ULIP Hackathon – LogiXtics. NICDC was mandated by NITI Aayog in January 2021 to develop ULIP by leveraging the Logistics Data Bank Project.

ULIP is being developed as technology platform in the logistics sector which will provide real time information to all stakeholders and will converge visibility of multi-modal transport across the existing systems of various Ministries/Departments working in silos. Once completed, one can see huge efficiencies in the logistics sector, and which will transform it by bringing down the logistics cost and enhancing Indias competitiveness in the global trade.

With the addressed challenges in the logistics sector, a competitive event like LogiXtics under the umbrella of ULIP, invites everyone to showcase their strategic, coding and domain skills on a national-level platform to solve the existing logistics industry issues. The Hackathon is very important to achieve the vision of the ULIP platform.

Speaking at the event, Amrit Lal Meena, Special Secretary, Department of Logistics and CEO& MD, NICDC added, “ULIP is also in line with the overall objective of PM GatiShakti which aims at breaking of individual silos, promote integration among various Ministries/Departments and promote real single window.