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Maha govt unveils ambitious logistics policy to boost economy and employment

The logistics policy aims to generate an impressive Rs 30,573 crore in revenue over the next five years.

by ITP Editor

The Maharashtra Cabinet, under the leadership of Chief Minister Eknath Shinde, has given the green light to the Maharashtra Logistics Policy 2024. This forward-looking policy aims to generate an impressive Rs 30,573 crore in revenue over the next five years.

Formulated based on recommendations from the State Economic Advisory Council, it charts a course for substantial growth in the coming decade and is poised to create approximately 500,000 direct and indirect jobs.

Key Highlights:

  • Tech-driven employment: The policy emphasises incentivising high-tech logistics solutions, including artificial intelligence (AI), blockchain technology, robotics, and automation. By doing so, it aims to create tech-savvy job opportunities for local youth.
  • Infrastructure development: The policy outlines ambitious goals, including the development of over 10,000 acres of dedicated logistics infrastructure. It envisions the establishment of 25 district logistic nodes, five regional logistic hubs, and an equal number of state logistic hubs. Additionally, Maharashtra will house a national logistics hub and an international logistics hub.
  • Job creation and revenue: The policy’s implementation is expected to catalyze the setup of more than 200 logistics parks, complexes, and integrated truck termini. This, in turn, will create around 500,000 new job opportunities and contribute to a revenue surge of Rs 30,000 crore during the policy period.
  • Efficiency and cost savings: The government anticipates a minimum 5 per cent reduction in logistics expenditure due to streamlined operations and improved infrastructure.
  • Tech adoption: High-tech logistics players will receive special incentives for adopting cutting-edge technologies like AI, blockchain, and robotics.

The Chief Minister’s Office expressed confidence that these policy interventions would transform Maharashtra into a logistics hub. A vast network of logistic nodes and services will crisscross the state, facilitating seamless movement of goods.

The Maharashtra Logistics Policy 2024 represents a strategic leap toward positioning the state as a logistics powerhouse, fostering economic growth, and empowering its workforce.