India Post aims to increase market share in parcel business segment to 10% in 2 years, says Manoj Sinha

By: | Published: October 9, 2018 5:32 PM

India Post handled 618 crore mail articles, 46 crore speed post articles and 18 crores registered articles in the last financial year 2018.

India Post Payments Bank, post office, e-IPOA separate insurance company under the postal department will also be set up and request for proposal have been invited from consultants.

India Post is targeting to raise its market share to more than double in parcel business segment over the nex two years from the current 3%-4%, Communications Minister Manoj Sinha said Tuesday, while speaking on the eve of World Post Day. In order to offer competitive services and achieve the target, the department of posts has also decided to set up separate parcel directorate.

“Private players offer effective service instantly while in government system people at small places are required to wait for the decision of headquarter. Therefore, to take an instant decision and to offer competitive service, we have created a separate parcel directorate and set a target of achieving 10 per cent of this parcel business in coming 2 years,” Sinha said. The World Post Day is organised to share achievements of postal departments across the world.

India Post handled 618 crore mail articles, 46 crore speed post articles and 18 crores registered articles in the last financial year 2018. He further added that approximately 94-96% of people receive articles delivered to them on time.

The e-commerce retail logistics market alone is valued at about $1.35 billion in 2018 and is estimated to clock a nearly 36% growth in the coming five years, according to a KPMG report.

“India Post leverages its unmatched reach and trust to take Digital Banking and Government Services to the doorstep of citizens,” he added.

The department has also set up a call centre in Varanasi city, Uttar Pradesh to handle customer grievances and resolve complaints, Sinha said, adding that postal department is the government’s commercial department and the government is taking required steps to ensure that it becomes self-sustainable. Also, a separate insurance company under the department will also be set up and requests for proposal have been invited from consultants.

“We have set a target to complete this work (set-up insurance firm) in two years,” Sinha said.

Meanwhile, while talking about the Indian Post Payment Bank (IPPB), which began operations on September 1, Sinha said that the payment bank has managed to open 12 lakh accounts with about Rs 13 crore of deposits.

Furthermore, he added that the department has operationalised 221 post office passport seva kendras in partnership with the external affairs ministry and has so far processed about 15 lakh passport appointments. Additionally, a total of 13,352 aadhar enrolment and updation centres have also been set up in partnership with the Unique Identification Authority of India (UIDAI).

“There will be Post Office Passport Seva Kendra in every Lok Sabha constituency. POSK has started at 221 places and 491 places have been identified where we have to work. There is space available in most of the places and problem in some, for which we are making alternate arrangements,” Sinha added.

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