What’s in the news?

• The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the Unified Logistics Interface Platform’s (ULIP) Hackathon – ‘LogiXtics’ in order to crowdsource more ideas which will benefit the logistics industry.
• 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. 
• The ULIP Hackathon – LogiXtics is organised by NITI Aayog and Atal Innovation Mission and supported by National Industrial Corridor Development Corporation (NICDC) and NICDC Logistics Data Bank Services Limited (NLDSL).
• NITI Aayog was entrusted by the Prime Minister Narendra Modi in 2020 with the task of exploring the role of technology in various sectors. ULIP was conceptualised as one of the technology platforms in the logistics sector.
• ULIP is being developed as a 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, which will transform it by bringing down the logistics cost and enhancing India’s competitiveness in the global trade.

Reference:

1. https://pib.gov.in/PressReleasePage.aspx?PRID=1782585