‘Allocation of 1.48 cr in skilling will drive logistics efficiency’

Yashpal Sharma, President, Air Cargo Forum India (ACFI) shares, “The 2024 budget announcements present numerous opportunities for the Indian air cargo industry. The Indian freight forwarding community views the 2024 budget with a mixture of optimism and strategic planning, recognizing numerous initiatives that align with their aspirations for growth, efficiency, and global competitiveness. The huge allocation of 1.48 Cr crore in Skilling and Education will create a more skilled workforce bringing more efficiency to the Logistics Industry. The significant infrastructure investments will improve capacity building for all Logistics infrastructure in the country bringing further down cost of operations and quicker movement of goods. The relaxation in export-import periods for components sent for repair in the MRO industry can reduce aircraft downtime, which is beneficial for air cargo operations. Financial support for new employees and MSMEs can bolster the industry’s human resources and supply chain. E-commerce hubs and leasing support will streamline operations and increase fleet availability. Tax reductions and higher disposable incomes can stimulate demand, and industrial parks will provide advanced logistics infrastructure. Collectively, these measures are likely to drive substantial growth and development the Logistics industry, positioning it for a more competitive and dynamic future.”