The Union Food Minister Shri Pralhad Joshi, in a ceremonial speech held in the national capital, recognized the role of the CWC in the logistics and supply-chain infrastructure of India while celebrating its 69th Foundation Day. Shri Joshi pointed out that in view of the rapid expansion of e-commerce and government’s increasing focus on infrastructure development, the importance of warehousing and logistics cannot be overlooked in the growth of the economy.
He emphasized government’s motive to bring down logistics costs through initiatives like the National Logistics Policy and PM Gati Shakti program. We are ushering in a transition from the current logistics costs of 13-14% to a level of 8%, like that enjoyed in the global markets, asserted Shri Joshi, acknowledging the concomitant role of the CWC in contributing modern infrastructure and improvements in efficiency.
He also appreciated CWC services of great importance to government programs like PMGKAY and PM-AASHA, which provide coordinated management and transportation of essential goods. He mentioned that CWC has developed into a dynamic logistics service provider with more than 700 warehouses and a storage capacity of 148.29 lakh metric tonnes.
Shri Joshi pointed out the enormous historical legacy that CWC represents in warehousing and said that CWC is undergoing a further transformation today. The warehousing market in India is expected to see a growth of around 15% CAGR and is estimated to reach $35 billion by 2027. He also commended the asset monetization that CWC has successfully performed, raising ₹820 crore from eighteen locations.
Union Ministers of State Shri B.L. Verma and Smt. Nimuben Jayantibhai Bambhaniya expressed appreciation for the commitment to food security and farmers’ welfare with core focus on determining MSP for Rabi crops in the forthcoming marketing season.
The CWC Managing Director Shri Santosh Sinha briefed on the modernization initiatives of the corporation on storage capacity enhancement and cold storage, under a PPP model. Recently, CWC was conferred ‘Navratna Status’ in recognition of its initiatives.
