The Confederation of Indian Industry (CII) and the Uttar Pradesh State Industrial Development Authority (UPSIDA) hosted the 'UP Warehousing & Logistics Summit 2023', on 7 June, to explore the potential of the UP Warehouse and Logistics Policy and discuss issues in the sector.
Mayur Maheshwari, CEO of UPSIDA, highlighted that the warehouse and logistics sector received 10 per cent of investment proposals during the UP Global Investors Summit held in February 2023, reports Times of India.
The state government was working to create warehouses along the expressways in Uttar Pradesh, that are currently operational and underway.
Additionally, an 800-acre multimodal logistic hub had already been developed in Gautam Budh Nagar.
The policy was formulated to develop a logistical ecosystem in the state to create an international business environment.
The new policy aims to create a strong transport infrastructure network, upgrade and improve the existing warehousing and logistics infrastructure, encourage integrated development of logistics services in the state and to reduce logistics costs and improve efficiency.
Vikram Jaisinghani, MD and CEO Adani Logistics Limited, announced that Adani Logistics Parks Ltd was planning to construct more than 60 million square feet of warehousing facilities across India — with 30,000 crore square feet being dedicated to the state.
Akash Goenka, chairperson of CII UP State Council, stressed that the growth of e-commerce and the 'Make-in-India' initiative has boosted the prominence of the warehousing and logistics sector.
He added that in this era of globalisation, efficient supply chain management and sound warehouse and logistic set-up are crucial to cater to the consumers' needs for faster deliveries.
The summit provided an opportunity to discuss the sector's challenges and understand how to leverage the policy to attract investment and create job opportunities in the state.
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