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Which department under Union Ministry of Commerce and Industry, along with Confederation of Indian Industry (CII) signed a memorandum of understanding (MoU) to undertake integrated development of the India’s logistics sector?
  • a)
    Department of Commerce
  • b)
    Department of Industrial Policy & Promotion
  • c)
    Department of Fertilizers
  • d)
    Ministry of Consumer Affairs
  • e)
    Ministry of Culture
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Which department under Union Ministry of Commerce and Industry, along ...
Department of Commerce (under Union Ministy of Commerce and Industry) and Confederation of Indian Industry (CII) signed a memorandum of understanding (MoU) to undertake integrated development of the India’s logistics sector. Central Government believes that improving logistics will not only improve ways of doing business but will also create numerous job opportunities. The MoU pertains to development of domestic logistics as well as export-import logistics. Union Commerce Ministry has prepared a roadmap for modernizing India’s logistics sector and to bring it at par with the best the world. The target is to reduce the logistics cost from current 14 percent of GDP to less than 10 percent by 2022.
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Which department under Union Ministry of Commerce and Industry, along with Confederation of Indian Industry (CII) signed a memorandum of understanding (MoU) to undertake integrated development of the India’s logistics sector?a)Department of Commerceb)Department of Industrial Policy & Promotionc)Department of Fertilizersd)Ministry of Consumer Affairse)Ministry of CultureCorrect answer is option 'A'. Can you explain this answer?
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