Retail push for India Post

India post wants to move from a communication-based organisation to a distribution and retail organisation.

Addressing a conference on the business strategy of India Post, U Srinivasa Raghvan, Secretary (Posts), Department of Post, said, "We function as a conglomerate and want to have strategic advantage of that. In each of the area India post chooses to be in, it wants to have competitive advantage over every player in these segments."

Raghvan, however, refused to comment on the post office amendment bill. He said, "India post is not worried about people coming in and starting their own ventures. The communication and financial business is growing and the market is too big for every one to start their own business."

India post is the second largest insurance organisation in the country and is growing at the rate of 40 per cent.

It is also emerging as one of the largest distributor of UTI mutual funds. The Department of Posts has planned to computerise its 8,000 centres and has other financial services plans on the anvil. The business subsidy to the department will be brought down to Rs 1000 crore or less, Raghavan said.