India aims to reduce logistics costs by
10% by 2030
¨
Pralhad Joshi stated that
the government plans to reduce India's logistics costs to 10 percent by 2030 to
support the country's development.
¨
Union Minister of
Consumer Affairs, Food and Public Distribution Pralhad Joshi made this
statement while addressing the 70th Foundation Day celebrations of the Central
Warehousing Corporation in New Delhi.
¨
Joshi emphasized that the
warehousing and logistics sector is a key driver of the country's economic
progress.
¨
He emphasized that the
Indian warehousing market will grow at an annual growth rate of approximately
15 percent.
¨
The sector is expected to
reach a valuation of approximately US$35 billion by 2027.
¨
He attributed this
projected growth to the rapid growth of e-commerce and the expansion of
organized retail.
¨
He praised the CWC for
its contribution to the logistics ecosystem.
¨ The Corporation currently operates 953 warehouses across the country.
¨ These facilities together offer a storage capacity of 16.1 million metric tons.
