UP Warehousing & Logistics Summit 2023 held to explore the potential of Uttar Pradesh’s logistics ecosystem

On 7th June, the state of Uttar Pradesh hosted the UP Warehousing & Logistics Summit 2023, which was organised by the Confederation of Indian Industry (CII) and the Uttar Pradesh State Industrial Development Authority (UPSIDA), to explore the potential of the UP Warehouse and Logistics Policy and discuss issues in the sector.

The Uttar Pradesh Warehousing & Logistics Policy was established last year to develop the logistics ecosystem in the Uttar Pradesh and increase the use of multimodal transportation. The ultimate aim was to attract domestic and foreign business investment, reduce logistics costs and time, increase competitiveness and improve the operational efficiency.

Key Pillars of the UP State Warehousing and Logistics Policy 2022

The Uttar Pradesh government has been working to develop warehouses to run along expressways in the state. The warehouses that have been completed already are operational, and others are in the process of being constructed. This is in addition to the 800 acre multimodal logistics hub that has been established in Gautam Budh Nagar.

As per sources, the Uttar Pradesh government is soon going to kickstart the proposed investment projects worth over INR 35 lakh crore that were attracted to the state during the Global Investors Summit.

UPSIDA CEO Mayur Maheshwari, during the Summit, highlighted that the warehouse and logistics sector received 10% of investment proposals during the UP Global Investors Summit held in February 2023. On the other hand, Vikram Jaisinghani, MD and CEO Adani Logistics, announced that Adani Logistics Parks Ltd was planning to construct around 30,000 crore sq.ft. warehousing infrastructure in the state, which is a part of the larger scheme to develop more than 60 million sq.f.t of warehousing facilities across India.

Uttar Pradesh’s logistics ecosystem is being developed at a grand pace on the back of growth in e-commerce sector and, overall, globalisation. With the government pushing the Make in India initiative fiercely, the need for warehousing, first and last mile logistics, as well as the efficient management of the entire supply chain has become critical. The same was reiterated by Akash Goenka, Chairperson of the CII UP State Council.

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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