[vc_row][vc_column][vc_column_text]While there is a wish list of reforms that the sector deserves, a few points need to be considered on priority. At the outset, GST implementation is key for ease in movement of goods in the domestic market, the benefits of which are well discussed in the recent past. Secondly, focus on provisioning for infrastructure development, including better transportation system that will improve business efficiencies, thereby benefiting the sector immensely. The government should also look at fast tracking approvals for new infrastructure projects to boost foreign investors’ confidence.
The government should consider giving tax benefits for capital intensive infrastructure. This will incentivize the private sector to invest significantly in infrastructure projects, a positive step towards realizing the ‘Make in India’ motto of the government. The development of logistics parks across the country for speedy delivery is also the need of the hour. Logistics parks will help provide services and facilities to reduce costs, boost efficiency and improve the flow of both raw material procurement and finished goods.
The sector is also in need of skilled labour. The government should look at allocating funds for education and skill development in this area as this will be of great help to all logistics players.
With the current demonetization move, the industry and the common man at large have high expectations of lowering tax rates and reviving positive sentiments in the economy.
Besides, it would be interesting to see what the budget has in store to boost the manufacturing sector and pump up the rural economy. Reforms in this direction are a ready welcome for the logistics industry.[/vc_column_text][/vc_column][/vc_row]
