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What is the News?
The Department for Promotion of Industry and Internal Trade(DPIIT) has launched the Unified Logistics Interface Platform’s (ULIP) Hackathon named ‘LogiXtics’.
What is ULIP Hackathon – LogiXtics?
LogiXtics is a hackathon organized under the ULIP. The hackathon will be a competitive event where everyone is invited to showcase their strategic, coding and domain skills on a national-level platform to solve the existing logistics industry issues.
Who is organising this Hackathon?
NITI Aayog and Atal Innovation Mission and supported by National Industrial Corridor Development Corporation(NICDC) and NICDC Logistics Data Bank Services Limited(NLDSL).
Why is this hackathon launched?
India incurs one of the highest logistics costs as a percentage of GDP in comparison to developed countries like the U.S. and Germany – where it is only 8% to 9% while it is 14% in India.
Hence, this hackathon has been launched, as a reduction of logistics cost to 9% can save up to 50 billion USD.
What is Unified Logistics Interface Platform(ULIP)?
ULIP is being developed as a technology platform in the logistics sector. It aims to enhance efficiency and reduce logistics costs in India by creating a transparent platform that can provide real-time information to all stakeholders and remove all asymmetry of information.
The platform will also converge the visibility of multi-modal transport across the existing systems of various Ministries/Departments working in silos.
Moreover, the platform will also work with top Indian technology organizations from the private sector and identify solutions to reduce logistics costs.
Source: This post is based on the article “LogiXtics – Unified Logistics Interface Platform’s (ULIP) Hackathon launched by Centre” published in PIB on 17th Dec 2021.