In a significant move to bolster economic growth and job creation, the Maharashtra Cabinet, during its meeting on Wednesday, approved the Maharashtra Logistics Policy 2024. Drafted under the guidance of the State Economic Advisory Council, the policy outlines a robust framework for the next decade, aiming to create approximately 500,000 direct and indirect jobs. Additionally, it is projected to generate a substantial revenue of ₹30,573 crore.
Strategic Developments
Logistics plays a crucial role in the supply chain, involving the acquisition, storage, and delivery of resources to their intended destinations. This ensures a smooth flow of goods and services from the point of origin to the point of consumption, critical for the efficiency of markets and industries. The cornerstone of the policy is the 'Integrated Logistics Master Plan', which focuses on optimizing the use and development of existing and future logistics networks. This includes strengthening infrastructure and enhancing multi-modal connectivity to facilitate the seamless transport of goods. The government plans to develop dedicated logistics infrastructure across more than 10,000 acres in the state by 2029.
Major Projects
A key feature of the policy is the development of an international mega logistics hub in the Navi Mumbai-Pune corridor. Set to cover 2,000 acres and located near the upcoming international airport at Panvel, this hub aims to elevate the area into a major center for international trade and industry. The initiative is supported by a budget of ₹1,500 crore. Another significant project is the national mega logistics hub to be established on a 1,500-acre plot in the Nagpur-Wardha area, which will connect to the Mumbai-Nagpur Expressway. Nagpur's strategic location and existing transport infrastructure make it an ideal spot for this ₹1,500 crore project.
Technology and Sustainability
The policy also includes the creation of five state and five regional logistics hubs in various districts, tailored to boost the logistical capacities of these regions with a combined funding of ₹4,000 crore. The new policy aims to cut logistics costs by 4% to 5% from the current 14-15%, reduce the time required for logistics operations, and decrease carbon emissions through the adoption of green initiatives. Technologies such as blockchain, artificial intelligence, and intelligent logistics management systems will be integrated to transform Maharashtra into a global logistics hub.
Incentives and Expansion
The state has planned financial incentives for the first 100 logistics parks within each district, which include interest subsidies, stamp duty exemptions, and other benefits, to promote a vast network of logistic services. Additionally, 25 district logistics nodes will be developed based on economic development centers identified in each district, aiming to leverage local business opportunities and skills. For the successful formulation and implementation of this policy, inputs were sourced from several state authorities including the Maharashtra Maritime Board, Jawaharlal Nehru Port Authority, and Maharashtra Airport Development Company, among others. This collaborative approach ensures a comprehensive strategy to make Maharashtra a central logistics nucleus, driving growth and innovation across the state.
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