New Delhi, March 2 (IANS) With the rapid expansion of e-commerce and the government’s focus on infrastructure development, the warehousing and logistics sector is seen as a key driver of economic growth, Union Minister of Consumer Affairs, Food and Public Distribution Pralhad Joshi said on Sunday.
Addressing an event here to celebrate the 69th Foundation Day of the Central Warehousing Corporation (CWC), the minister highlighted the organisation’s efforts in operational efficiency, transparency, and accountability through the integration of digital initiatives.
Underlining the government’s commitment to reducing logistics costs, the Union minister said, “With the launch of the National Logistics Policy (NLP) and the PM Gati Shakti Programme, we aim to bring down logistics costs from the existing 13-14 per cent to global standards of around 8 per cent. CWC, as a leading warehousing organisation, is poised to support these objectives through modern infrastructure development and efficiency enhancements.”
Joshi emphasised CWC’s crucial role in government initiatives such as Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA), ensuring efficient warehousing, handling, and transportation of essential commodities, including food grains, pulses, cotton, and groundnuts.
He highlighted CWC’s transformation from a conventional warehousing entity to a dynamic logistics service provider, stating, “CWC has evolved into a symbol of efficiency, innovation, and reliability, with an extensive network of over 700 warehouses and an operational storage capacity of 148.29 lakh metric tonnes.”
Reflecting on India’s historical legacy in warehousing, Joshi remarked, “India has a rich history of storage solutions, dating back to the Indus Valley Civilisation and Patliputra in the Mauryan and Gupta empires. Today, modern technology-driven warehousing has revolutionised the sector, with India’s warehousing market expected to grow at a remarkable 15 per cent CAGR, reaching $35 billion by 2027.”
The Minister acknowledged CWC’s significant contribution to infrastructure development and stated that CWC has expanded its storage capacity by an additional 21.65 lakh square feet in FY 2023-24 with a record capital expenditure of Rs 613 crore. He added that its e-commerce capacity has grown twelvefold since 2021 to approximately 80 lakh square feet in 2025.
He praised the asset monetisation of CWC’s assets at 18 locations mobilising an investment of Rs 820 crore under the asset monetisation plan. Under the Atmanirbhar Bharat Mission, CWC shall aim to foster self-reliance by having an efficient and substantial supply chain by encouraging private sector participation, investment in technology advancement and creating a conducive environment.
The minister reiterated CWC’s commitment towards ensuring the food security of the nation by enabling a seamless storage supply. He also highlighted Prime Minister Narendra Modi’s decision to raise the Minimum Support Price (MSP) of rabi crops for the 2025-26 marketing season which underscores the government’s efforts for the welfare of farmers.
The event commenced with a presentation on the overview of CWC performance by Santosh Sinha, Managing Director, CWC. He emphasised the modernisation of conventional warehouses in Tier-I and Tier-II cities, the development of cold storage facilities under the PPP model and leveraging partnerships with stakeholders.
CWC has added new capacities with more than 120 lakhs sq ft capacity hired during 2024-25, storage of 70 Lakhs Cotton Bales and 1.90 crore bags of groundnut in the current season. On account of superior performance and consistent team efforts, the Corporation was awarded ‘Navratna Status’ in April 2024, he added.
–IANS
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