Maharashtra cabinet clears logistics policy 2024

The policy focuses on optimum utilisation of the state’s existing and upcoming logistic network, strengthening logistic infrastructure and multi-modal connectivity. The government proposes to provide a slew of incentives including land, power at industrial rates, interest rate subsidy, stamp duty exemption, assistance for technology upgradation, additional floor space index and relaxation on height restrictions for multi-storey logistics park. The Chief Minister’s Office said, “Due to the policy interventions, Maharashtra will become a hub of logistics by creating a huge network of logistic nodes/services across the state.” The policy aims to develop more than 10,000 acres of dedicated logistics infrastructure, to develop 25 District Logistic Nodes, 5 Regional Logistic Hubs, 5 State Logistic Hubs, 1 National Logistic Hub and 1 International Logistic Hub. The policy interventions are expected facilitate setting up of more than 200 logistics parks, complexes, truck terminus with integrated facilities, creation of about 5,00,000 new job opportunities and a revenue generation of Rs 30,000 crore over the policy period. Further, the government expects reduction in logistics expenditure by a minimum 5 per cent.