‘Bharat Trade Net to optimise supply chains via tech’

Rizwan Soomar, Chief Executive Officer & Managing Director, DP World Middle East North Africa and India Subcontinent, says, “The Union Budget will significantly enhance ease of doing business, workforce skilling and manufacturing competitiveness with its continued focus on development of maritime infrastructure, domestic air connectivity, development of dedicated rail freight corridors (DFCs) and large-scale port modernisation. The government’s commitment to inland water transport through the tonnage tax scheme will provide a more sustainable and cost-effective way of cargo movement. The Bharat Trade Net aims at simplifying trade documentation and will help optimise supply chains through data-driven decision-making. The INR 25,000 crore Maritime Development Fund will enhance financial stability and competitiveness for Indigenous shipbuilding and other infrastructure projects encouraging private investments. The extension of Basic Customs Duty (BCD) exemption for raw materials in shipbuilding and shipbreaking is a significant step, reducing dependency on imports.”