NEW DELHI, Mar 2: The government is on a mission to cut logistics costs from the current 13-14% down to the global average of about 8%, with the Central Warehousing Corporation (CWC) playing a pivotal role in this nationwide initiative.
“With the implementation of the National Logistics Policy and the PM Gati Shakti Programme, our goal is to reduce logistics expenses from the present 13-14% to align with global standards of approximately 8%,” stated Food Minister Pralhad Joshi during the CWC’s 69th Foundation Day celebration.
He pointed out that the CWC, founded in 1957, has transformed into a proactive logistics service provider, boasting over 700 warehouses and an operational storage capacity of 14.829 million metric tonnes, according to an official statement.
This government initiative is part of the wider Atmanirbhar Bharat (Self-Reliant India) Mission, which focuses on enhancing self-sufficiency through efficient supply chains by promoting private sector involvement and technological innovation.
The minister praised CWC’s successful asset monetization at 18 locations, generating an investment of Rs 820 crore under the government’s asset monetization strategy.
He commended the corporation for enhancing operational efficiency, transparency, and accountability through its digital initiatives.
With the fast growth of e-commerce and a focus on infrastructure development, Joshi emphasized that the warehousing and logistics sector is vital for stimulating economic growth.
Moreover, he underlined CWC’s significant contribution to government schemes such as the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA), ensuring efficient warehousing, handling, and transportation of critical commodities like food grains, pulses, cotton, and groundnuts.
Ministers of State for Food and Consumer Affairs, BL Verma and Nimuben Jayantibhai Bambhaniya, were also in attendance, reiterating CWC’s dedication to maintaining national food security through seamless storage solutions.
CWC Managing Director Santosh Sinha emphasized the modernization of traditional warehouses in Tier-I and Tier-II cities and the establishment of cold storage facilities under the Public-Private Partnership model, highlighting the importance of collaboration with stakeholders.
During the 2024-25 period, CWC has expanded its capacity by over 12 million square feet, accommodating the storage of 7 million cotton bales and 1.9 crore bags of groundnuts in the current season, he added. (PTI)
