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Union Minister Jyotiraditya Scindia on Saturday held a meeting with Finance Minister Nirmala Sitharaman in New Delhi to discuss India Post's path to profitability.
Scindia and his team at the Department of Posts presented their capital expenditure demands to the finance minister to make the department a profit centre by 2029, according to a press note. In the meeting, Minister Scindia presented a new development plan for India Post. He shared that the department is working on rationalising costs and aiming to make maximum processes digital. He reiterated that his aim is to make the department a profit-making logistics company with a focus on customer satisfaction. He also talked about how the ongoing Business Process Re-engineering (BPR) exercise will benefit a lot from the investment from the Finance Ministry. He shared that the BPR exercise will also focus on launching more attractive business-to-business (B2B) and business-to-consumer (B2C) services. In the meeting, Scindia shared that with investment from the Finance Ministry for our capital expenditure, we will focus on infrastructure development and renovation of post offices as well as staff housing quarters across the nation. He also stated that the department will work towards automation of processes to make them efficient and future-ready. Minister Scindia, in 2007, standardised the look and feel of post offices and helped Dak Sewaks get office equipment. In 6 months of him taking charge of this department in 2024, he had asked his India Post team to get exposure to international best practices and come up with innovative strategies for the department. Scindia shared that he believes in India Post's potential to increase market share for most of its products, increase revenue and compete in the industry in the next 5-7 years. He shared that the focus will be on expanding the market share in mail and parcel verticals. India Post is the postal network of the Department of Posts (DoP) in India, which is responsible for the country's communication and social economic developments. Among the significant initiatives this year, the department has introduced PMA (Parcel Monitoring Application), real-time delivery information sharing. From May 2019 to October 2024, the delivery of accountable mail has shown remarkable growth from 4.33 lakh articles to 5.35 crore articles, as per the official data. India Post has also implemented e-Clearance of Letter Boxes, Radio Frequency Identification (RFID), Click N Book Service, Nodal Delivery Centres and Transshipment Centres and has signed an MoU with the e-commerce giant Amazon to strengthen logistics operations. (ANI)
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