Cost Management and Innovation: The Dual Pillars of India's National Logistics Policy, 2022

Abstract

An important initiative to revamp India's logistics industry, which has been plagued by exorbitant costs, inefficiencies, and disjointed infrastructure, is the National Logistics Policy (NLP) 2022. This study examines the policy's two pillars, innovation and cost management and projects how they will affect the logistics sector in India. The main goals of the policy are to lower logistics costs, raise India's ranking in the Logistics Performance Index and Datadriven logistics ecosystem. These initiatives include the Integrated Digital Logistics System (IDLS), Logistics Data and Analytics Centre (LDAC), Multimodal Logistics Parks (MMLPs) and dedicated freight corridors. The article also emphasizes how crucial Cost and Management Accountants (CMAs) are to this change, describing how they support financial planning, performance evaluation, risk management, cost optimization, regulatory compliance, technology integration, and skill development.