India Post Eyes Rise in Parcel Biz Market Share | CORPORATE ETHOS

India Post Eyes Rise in Parcel Biz Market Share

By: | October 11, 2018
india post payments bank

Oct 11: India Post is looking to up its market share in the parcel business segment by more than double in the next two years. Union Communications Minister Manoj Sinha has been quoted by news reports as saying that a separate parcel directorate will be set by the Department of Posts to offer competitive services and to achieve the target.

Going by what the Minister said, the separate parcel directorate will set a target of achieving 10 percent of the parcel business in coming 2 years so that instant decision is taken and competitive service is offered.

In the 2018 fiscal, India Post handled as many as 618 crore mail articles, 46 crore speed post articles and 18 crore registered articles. Articles are delivered on time to around 94-96% of people. According to a report by KPMG, the stake value of the e-commerce retail logistics alone is $1.35 billion in the financial year 2018 and it is expected to grow by 36 percent in five years.

The Minister went on to say that, to handle customer grievances and resolve complaints,  a call center has been set up in Varanasi. He also added that as the postal department is a commercial department, the government is taking needed measures to make the department self- sustainable. An insurance company exclusively for the postal department will also be set up.

On the Indian Post Payments Bank, the Minister said that with a total deposit of Rs 13 crore the bank has around 12 lakh accounts. Indian Post Payment Bank (IPPB), began its operations on September 1.

With the partnership of the External Affairs Ministry, around 221 post office passport seva kendras are operated by the department. By now the department has processed about 15 lakh passport appointments. Apart from this, they have also joined hands with the Unique Identification Authority of India (UIDAI) set up 13,352 Aadhar enrolment and update centers.