New Delhi, May 29 (IANS): The turnover of India's cold chain sector is expected to scale the Rs 5 lakh crore mark by 2030 or 2032, a senior official of the Commerce and Industry Ministry said on Wednesday.
Speaking at FICCI's Cold Chain and Logistics Summit, Surendra Ahirwar, Joint Secretary, Ministry of Commerce and Industry, said that the cold chain sector currently has a turnover of about Rs 2 lakh crore and is growing at a rapid rate of over 10 per cent.
Ahirwar highlighted the government's efforts to create an enabling environment for innovation and efficiency in the cold chain sector.
He mentioned the PM GatiShakti National Master Plan initiative, which catalyses accelerated infrastructure development for the logistics sector, including temperature-controlled warehouses. Besides, he alluded to the National Logistics Policy launched in 2022, which comprehensively addresses various aspects of the logistics sector, including the cold chain.
He emphasised the importance of the industry's various initiatives, including innovations, infrastructure creation, and partnerships between industry and academia. He cited examples such as temperature-controlled warehousing, ice battery technology, and efficient packaging solutions as positive developments in the sector.
Speaking on occasion, Asheesh Fotedar, Chief Operating Officer, National Centre for Cold-Chain Development (NCCD), Ministry of Agriculture, highlighted NCCD's initiatives aimed at bolstering the country's cold chain infrastructure, with a focus on sustainability, efficiency, and innovation.
He said that NCCD is revising technical standards and minimum guidelines to implement cold-chain components in the sector. The revised guidelines will serve as a roadmap for all central and state government bodies setting up cold chain facilities nationwide. Besides,
NCCD is engaging with stakeholders to identify the problems faced by the reefer truck owners and simultaneously working out the policy part to provide proper recommendations to the ministry.
Fotedar also said that NCCD is developing a mobile application to digitalise data related to cold chain components.
This is expected to increase capacity utilisation, reduce fuel costs, and minimise the carbon footprint. The application will also capture relevant logistics data for policymaking and analytics.
Amit Kumar, Committee - Co-Chairman, FICCI Committee on Logistics stressed the importance of developing sustainable infrastructure and adopting smart technologies to optimise energy usage and reduce environmental impact.
On the occasion, the FICCI-Grant Thornton Bharat Report on "Cold Chain Dynamics: Mapping India's Logistics Transformation" was also released.
The knowledge report highlights India's dynamic food processing industry, emphasising the crucial role of the cold chain sector in light of challenges such as infrastructure gaps and high costs.