Union Minister for Consumer Affairs, Food and Public Distribution, Pralhad Joshi, stated today that the government aims to reduce India's logistics costs to below 10% by 2030 to promote the country's development. Addressing the 70th foundation day of the Central Warehouse Corporation (CWC) in New Delhi, Mr. Joshi emphasized the vital role the warehousing and logistics industry plays in the nation's development. He noted that the Indian warehousing market is expected to grow at an annual rate of 15%, reaching nearly $35 billion by 2027.
The Minister added that this growth will be driven by the rapid expansion of e-commerce, the rise of organized retail, and improvements in railway infrastructure, transportation networks, and dedicated freight corridors.
Congratulating CWC for its work in the logistics sector, Mr. Joshi said that the corporation has 953 warehouses with a storage capacity of 161 lakh metric tonnes. He urged the corporation to accelerate projects under the Public-Private Partnership model to increase its market share.