India is set to receive a $350 million policy-based loan to continue a second phase of the SMILE program with the support of the Asian Development Bank (ADB). Organized by the Department of Economic Affairs (DEA), the Ministry of Finance, and the Department for Promotion of Industry and Internal Trade (DPIIT), the program focuses on the enhancement of manufacturing capability and the strengthening supply chain system in India.
SMILE is a programmatic practice model consisting of two subprograms aimed at improving logistics performance at the national, state, and city levels. It lays a sound policy structure on the infrastructure development of an integrated transportation system, provides codification of warehousing, and encourages private participation. In carrying out its objective, the program focuses on low-carbon transport logistics means via the application of smart systems to enhance external trade.
The Ministry of Commerce and Industry pointed out that the reforms are intended to lower logistics costs, improve performance, and increase international competitiveness. Most of these are believed to open up employment opportunities, increase the representation of women, and come with a positive gesture on sustainable development.
This partnership re-affirms both the government’s commitment to India and ADB for advancement and change in the logistics sector, which has been eyed as a foundation for the country’s growth. With superior policy measures, development of infrastructures, and digitalization, the SMILE program is likely to become a new era’s differentiator to revolutionize India’s logistics sector for making the manufacturing sector more resilient, efficient, and competitive.
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