Why in news?             

• The Department for Promotion of Industry and Internal Trade (DPIIT) has launched the Unified Logistics Interface Platform’s (ULIP) hackathon – ‘LogiXtics’ to crowdsource more ideas which will benefit the logistics industry.

About Unified Logistics Interface Platform’s (ULIP) hackathon – ‘LogiXtics’

• 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 was 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).

Significance

• The cost of logistics in the India is about 14% which is higher than other countries in the world.
• ULIP’s objective has been to work with top Indian technology organizations from the private sector and identify solutions to reduce logistics cost.