Easy Explainer: The Maharashtra Logistics Policy 2024
Today, everything from high-end electronics to weekly groceries can be purchased with just a few clicks, thanks to the power of e-commerce. To keep up with the growing demand for fast deliveries and customer satisfaction, warehousing & logistics companies are at the forefront of this transformation. Recognising the logistics sector's critical role, the Maharashtra State Government approved the Maharashtra Logistics Policy 2024 in August. Read on to explore the key elements of this policy and its potential impact on the sector across the state.
What is the Aim of the Maharashtra Logistics Policy 2024?
The Maharashtra Logistics Policy 2024 is set to transform the state's logistics sector, creating opportunities for logistics companies and warehousing providers, particularly in high-demand regions like Mumbai, Navi Mumbai, and Pune. Drafted with recommendations from the State Economic Advisory Council, this policy aims to drive exponential growth in the sector over the next decade. The policy is expected to create 5,00,000 direct and indirect jobs, generate around ₹30,573 crore in revenue, and span more than 10,000 acres of logistics infrastructure. This growth promises to enhance economic activity and strengthen India's logistics capabilities across key regions.
Key objectives include:
- Reduction of logistics costs by 4-5% from the current 14-15%.
- Streamlining logistics operations to reduce turnaround time.
- Decreasing carbon emissions with sustainable practices.
- Integration of cutting-edge technologies such as blockchain, AI, and sustainable designs.
- Attracting significant domestic and foreign investments.
- Establishing Maharashtra as a global logistics hub.
Infrastructure Development
The ‘International Mega Logistics Hub’ will cover 2,000 acres in the Navi Mumbai-Pune corridor, strategically connected to Panvel’s new international airport, with an investment of ₹1,500 crore.
Meanwhile, the ‘National Mega Logistics Hub’ will span 1,500 acres in the Nagpur-Wardha region, linked to the Mumbai-Nagpur Expressway, also supported by a ₹1,500 crore investment.
Areas with a minimum of 20,000 sq. ft. and an investment of at least ₹5 crore will be designated as ‘Multi-Storey Logistics Parks,’ enhancing logistics infrastructure in key regions.
State and Regional Hubs
A total of ₹2,500 crore has been allocated for the development of five logistics hubs, each spanning 500 acres, in regions including Chhatrapati Sambhajinagar-Jalna, Thane-Bhiwandi, Ratnagiri-Sindhudurg, Pune-Purandar, and Palghar-Wadhawan.
Additionally, ₹1,500 crore has been earmarked for five hubs of 300 acres each, to be established in Nanded-Deglur, Amravati-Badnera, Kolhapur-Ichalkaranji, Nashik-Sinnar, and Dhule-Shirpur, further expanding the state's logistics infrastructure across strategic locations.
Incentive and Financial Support
The first 100 logistics parks will benefit from financial incentives, including interest subsidies, stamp duty exemptions, and support for technology improvements. These incentives aim to encourage early development, boost efficiency, and modernise logistics infrastructure across the country.
Strategic Goals
Twenty-five district logistics nodes will be developed, each featuring 2-3 major industry and trade hubs, covering 100 acres. Additionally, MIDC areas will allocate 15% of their space for private logistics nodes, fostering collaboration between public and private sectors to strengthen the logistics network.
Conclusion
The Maharashtra Logistics Policy 2024 heralds a new era for the logistics sector in the state, with a strong focus on infrastructure, manufacturing, technology, and sustainability. If you are a business owner or entrepreneur looking to capitalise on world-class logistics parks with cutting-edge facilities, Lodha Industrial and Logistics Park (LILP), Palava and Lodha Logistics Park (LLP), Kurla offer the perfect opportunity to enhance your operations and meet the growing demands of the market.
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LILP Palava, part of a larger integrated development, offers business owners access to a robust workforce, while employees enjoy the convenience of working close to home. The proximity to Palava’s bustling infrastructure, including retail centres, offices, and schools, makes LILP an ideal location for business growth. With access to one of the top logistics parks in Mumbai - LILP, businesses can optimise their supply chain in India while minimising environmental impact ensuring efficient warehousing management. With our focus on sustainability, at Lodha, are shaping the future of warehouse business in India and manufacturing in India while addressing pressing environmental and social challenges.