Mumbai, Aug 7 (IANS): The Maharashtra Cabinet, led by Chief Minister Eknath Shinde on Wednesday cleared the Logistics Policy 2024 incorporating the ‘Integrated Logistics Master Plan’.

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.

Hi-tech logistics will be specially incentivised for adoption of Artificial Intelligence (AI), Block Chain technology, Robotics, Automation, IoT, Digitalisation, Drone, FinTech results in creating jobs for tech-savvy youths.

The efficient logistics network due to multi-modal connectivity, green logistics parks, integrated approach and common sharing facilities with all amenities, is expected to help in reducing overall costs.

The group of Farmers’ Producer Organisations (FPOs) that are supported to establish warehouses on a sharing basis (cooperative), will result in helping the growers and prevent waste of agro-produce.

The policy also proposes to reduce the cost of logistics by a minimum 5 per cent, cut time taken for various interventions and decrease the carbon footprint by promoting green initiatives.

The Maharashtra Integrated Logistics Master Plan lays emphasis on strengthening logistics infrastructure and facilities; promote use of technology and sustainability initiatives; provide incentives for logistics park developers and also for independent logistics units and facilitate Ease of Doing Business for logistics.

The government will form a State Logistics Council under the chairmanship of the industry minister, carry out convergence of related Union and state government schemes and programmes and put in place institutional framework for the logistics sector.