00:00It's a privilege to be present here as we embark on a historic transformation of Department
00:08of Post.
00:09As you all know, for the last 170 years, this department has done an exceptional job and
00:22carried from hand written letters to complete transformation into both logistics as well
00:31as financial services.
00:35But institutes must transform to relevant and today is at this one of those historic transformation.
00:48Today, India is not just moving parcels alone.
00:54This department will be moving the Indian economy.
01:02And if you look at the statistics, almost 300 million Indians, that means 30 crore people,
01:09are buying whatever they need through e-commerce.
01:15And the entire business opportunity is around 10 billion dollars, close to 90,000 crores.
01:22Just the parcel, delivery, courier services when you combine.
01:27And the estimates over the next six years, it's going to double.
01:32That means we're talking about 20 US billion dollars, almost 101,80,000 crores.
01:39And as Department of Post, we only have the small market share in this entire process.
01:47And I think there is a historic opportunity for all of us to seize this.
01:53And in this entire process, 60% of logistics comes from tier 2 and tier 3 cities, as well as
02:01rural entrepreneurship,
02:02which is growing with small help groups.
02:05And for the efficient logistics, today both businesses and customers require speed, reliability, transparency, and affordability.
02:19Therefore, to address all these needs, we are unveiling three premium services.
02:27One is 24-hour speed post document, second 24-hour speed post parcel, and 48-hour speed post service.
02:38And this whole thing is not just about moving the things faster.
02:44It is about much broader transformation of how we wanted to take this entire Department of Post.
02:51Modiji has given us a mandate that India by 2047 should be a developed country.
02:59And we are fast-reaching third largest economy.
03:02And for that to work, every institution and every individual has to go in the same direction.
03:10And the Department of Post is one such PSU that we wanted to make a cultural shift.
03:18And that's what we did over the last two years, especially under the dynamic leadership of our Sindhiyaji.
03:26This logistic, the entire process, we brought outside consultants.
03:31We did extensive trials across multiple large cities, metro cities.
03:38We got 97, 98 percent reliability of delivering these things within 24 hours or 48 hours.
03:45So everything, and we rationalized the post offices.
03:49We brought in so much technology.
03:51We not only invested 5,000 crores for IT 2.0 transformation.
03:57But everywhere, you know, whether it is SMS tracking, OTP-based delivery, geotagging of the delivery areas.
04:05Everything has been transformed in an unimaginable way within the last two years.
04:10And today's event reflects that kind of hard work that went into this whole transformation.
04:19And I really wanted to congratulate and thank all my department people for participating and embracing this,
04:27Modiji's vision and our Honorable Minister's dynamic leadership.
04:33And then businesses, business customers also can book now, pay later.
04:39They will have a centralized building.
04:41They will have pickup services, volume-based discounts.
04:44People who have more than 10,000 rupees spending with Department of Post now are eligible.
04:50Not only the new customers, even the old ones can get this discount.
04:55So this will help them compete and scale in a time-sensitive market.
05:00And there are private players that are coming.
05:03But even when you compare with the private players,
05:05the way we transformed this entire process will be highly competitive.
05:10And you look at Air Express segment, where 1.3 to almost 2 times lesser expensive.
05:19Surface logistics also 1 to 4 times cheaper.
05:23Lightweight parcel 3 to 6 times cheaper.
05:26So these are the things that in a highly competitive segment,
05:30both pricing and performance matter.
05:33And performance doesn't mean just the intention.
05:37And it has to be shown by evidence.
05:39And these numbers show that there is a possibility that we can provide best service
05:45at competitive prices and still India Post be profitable.
05:51So not only this, we are trying to develop relationships with every online retail chain,
06:00whether it is Amazon or Shiprocket,
06:03so that the Department of Post can be a default delivery center for them.
06:08And the items that we are delivering today is mainly applicable to less than 5 kilograms of weight.
06:16So these are the major advantages of whatever we wanted to do.
06:22And many of you know that Department of Post has 1,60,000 post offices,
06:26large network, and this is rarely possible for many of the private players.
06:33All in all, at the end, I wanted to say what we are witnessing today is not just a simple
06:39service upgrade.
06:41It is an institutional transformation, cultural transformation.
06:44And for more than 170 years, Department of Post has carried the messages of this nation.
06:52But in the decades ahead, it will carry the momentum of India's economic rise.
06:58From rural villages to the biggest global market places,
07:02it will ensure opportunity travels faster, farther and more reliable than ever.
07:11And that is the true power and possibility of this institution.
07:16And I wish good luck and once again thank you for being part of this entire process.
07:21Thank you very much.
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