“As India is aspiring to become a $7 trillion economy, the logistics industry is set to play the role of a growth catalyst which will usher in the new era of economic progress. For that, the logistics industry requires consistency in policy, technology and infrastructure-led reforms. It is extremely encouraging to note that the NDA government in its third consecutive term has emphasised on the continuity and stability in the decision-making and policy measures and we expect the reflection of that intent in the full Budget.
The logistics industry is at the cusp of technology transformation and structural transition thanks to the launch of National Logistics Policy and PM Gati Shakti National Master Plan. The foundation has been laid to further strengthen the logistics competitiveness of our country so that it becomes a key global manufacturing hub and investment destination. The full budget needs to continue with the infrastructure push to add momentum to the transformation-led growth. The logistics industry requires a holistic infrastructure development push to build a stronger distribution network and global value chain linkages. Along with infrastructure development, the budget should announce fiscal stimulus to boost the entrepreneurial ecosystem and create employment opportunities to drive consumption.
As the country aims to become carbon neutral by 2070, the full budget should propose measures to increase e-mobility and renewable energy adoption. The logistics industry expects incentives and policy support to adopt sustainable practices to accelerate the country’s progress towards a green economy. There should be policy continuity in developing economic railway corridor programmes to boost rail freight share and reduce carbon emission as well as enhance operational and cost efficiency. A dedicated focus on sustainability will help the sector adopt green practices, reducing its carbon footprint and aligning with global environmental standards. The logistics industry is geared up to contribute to the ‘Viksit Bharat @2047’ mission.”
