Maha OKs logistics policy to target Rs 300 billion revenue in 5 years

09 Aug 2024 CW Team

The main objectives of the policy include reducing logistics costs by 4-5 per cent from the current 14-15 per cent, minimizing logistics time, implementing green initiatives to lower carbon emissions, and employing technologies like blockchain, artificial intelligence, and advanced logistics management systems.

Additionally, the policy seeks to promote green logistics parks, sustainable design, and modal shifts, while attracting both domestic and international investments to position Maharashtra as a global logistics hub.

Key stakeholders in the policy?s development include the Maharashtra Maritime Board, Jawaharlal Nehru Port Authority, Mumbai Port Trust, State Road Development Corporation, and the Maharashtra Airport Development Company.

An International Mega Logistics Hub will be developed on 2,000 acre in the Navi Mumbai-Pune area, near the new international airport in Panvel. This hub is set to connect with industrial estates such as Taloja, Patalganga, Rasayani, Khopoli, Mahad, Roha, Chakan, and Talegaon, establishing it as a key center for international trade and industry. The development of this hub will be supported by an allocation of Rs 15 billion .

Furthermore, the Nagpur-Wardha National Mega Logistics Hub will be constructed on 1,500 acre, linked to the Balasaheb Thackeray Maharashtra Samruddhi Mahamarg. Due to Nagpur?s central location and its connectivity through four national highways and a dedicated freight corridor, it is considered an ideal site for a logistics hub. This hub will also receive an allocation of Rs 15 billion.

Five state logistics hubs will be set up on 500 acres each in Chhatrapati Sambhaji Nagar-Jalna, Thane-Bhiwandi, Ratnagiri-Sindhudurg, Pune-Purandar, and Palghar-Vadhavan, with a total provision of Rs 25 billion. Additionally, regional hubs will be developed on 300 acre each in Nanded-Deglur, Amravati-Badnera, Kolhapur-Ichalkaranji, Nashik-Sinnar, and Dhule-Shirpur, receiving a combined allocation of Rs 15 billion.

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The Maharashtra Cabinet, led by Chief Minister Eknath Shinde, approved the Maharashtra Logistics Policy 2024. The policy is expected to generate approximately Rs 305.73 billion in revenue over the next five years. It was formulated based on the recommendations from the State Economic Advisory Council and aims to achieve significant growth over the next decade. The policy is anticipated to create around 5,00,000 direct and indirect jobs. The main objectives of the policy include reducing logistics costs by 4-5 per cent from the current 14-15 per cent, minimizing logistics time, implementing green initiatives to lower carbon emissions, and employing technologies like blockchain, artificial intelligence, and advanced logistics management systems. Additionally, the policy seeks to promote green logistics parks, sustainable design, and modal shifts, while attracting both domestic and international investments to position Maharashtra as a global logistics hub. Key stakeholders in the policy?s development include the Maharashtra Maritime Board, Jawaharlal Nehru Port Authority, Mumbai Port Trust, State Road Development Corporation, and the Maharashtra Airport Development Company. An International Mega Logistics Hub will be developed on 2,000 acre in the Navi Mumbai-Pune area, near the new international airport in Panvel. This hub is set to connect with industrial estates such as Taloja, Patalganga, Rasayani, Khopoli, Mahad, Roha, Chakan, and Talegaon, establishing it as a key center for international trade and industry. The development of this hub will be supported by an allocation of Rs 15 billion . Furthermore, the Nagpur-Wardha National Mega Logistics Hub will be constructed on 1,500 acre, linked to the Balasaheb Thackeray Maharashtra Samruddhi Mahamarg. Due to Nagpur?s central location and its connectivity through four national highways and a dedicated freight corridor, it is considered an ideal site for a logistics hub. This hub will also receive an allocation of Rs 15 billion. Five state logistics hubs will be set up on 500 acres each in Chhatrapati Sambhaji Nagar-Jalna, Thane-Bhiwandi, Ratnagiri-Sindhudurg, Pune-Purandar, and Palghar-Vadhavan, with a total provision of Rs 25 billion. Additionally, regional hubs will be developed on 300 acre each in Nanded-Deglur, Amravati-Badnera, Kolhapur-Ichalkaranji, Nashik-Sinnar, and Dhule-Shirpur, receiving a combined allocation of Rs 15 billion.

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