New Delhi | Communications Minister Jyotiraditya Scindia has met Finance Minister Nirmala Sitharam to discuss India Post's path to profitability, an official release said on Saturday.
Scindia, along with officials from the Department of Posts, presented their capital expenditure demands to the finance minister to make it a profit centre by 2029.
Scindia aims to make India Post globally competitive and has been leading Department-wide efforts to drive higher customer acquisition, retention and operational efficiency.
During the meeting with the finance minister, Scindia presented a new development plan for India Post and said the department is working on rationalising costs and aiming to make most processes digital.
The minister hopes to make the department a profit-making logistics company with a focus on customer satisfaction, as per the release.
He also mentioned that 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 focus on launching more attractive B2B and B2C services.
In the meeting, Scindia said that with the investment from the finance ministry for the said capital expenditure, the focus would be on infrastructure development and renovation of post offices and staff housing quarters across the nation.
Further, Scindia said the department will work to automate processes to make them efficient and future-ready.
It is pertinent to mention that Scindia, as a Minister of State in 2007, standardised the look and feel of post offices and helped Dak Sewaks get office equipment.
Within six months of his taking charge of the department in 2024, Scindia asked the India Post team to get exposure to international best practices and come up with innovative strategies.
Scindia firmly believes in India Post's potential to raise market share for most of its products, increase revenue and compete in the industry in the next 5-7 years. He mentioned that the focus will be on expanding the market share in mail and parcel verticals.