Anshuman Singh, Chairman & Managing Director, Stellar Value Chain Solutions said, “The budget attempts to pave the way for a long-term and sustainable economic growth for the country. The expected economic growth is expected around 7% by maintaining macro-economic stability amid geopolitical developments and facilitating employment generation. New age technology adoption right down to the grassroot level, green energy transition along with infrastructure focus are some of the highlights of the budget. Infrastructure is the foundation of any economic growth as it facilitates trade and commerce and the government’s commitments towards this are clearly evident. This is the third consecutive year of the government’s investment in infrastructure. INR 10 lac crore has been earmarked which is up by 33%. The government is also offering interest free loans to states for infrastructure development. The proposal to develop transport infrastructure will develop critical linkages to facilitate multi-modal transportation, which is extremely critical. Green initiatives coupled with EV infrastructure development working towards net zero emissions has a favourable impact on the logistics and supply chain industry as it helps the industry expand while still saving cost and most importantly keeping the environment green. The proposal to set up centres of excellence for artificial intelligence and introduce Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 will not only help the economy leverage the power of youth but also set the stage for a large-scale rollout of smart logistics equipped with data-driven technologies. With all the infrastructure investment, technology enablement initiatives, environment friendly focus and employment generation and consumption, India is poised for the next phase of growth in its endeavour to be a strong force to reckon with globally.”

Abhijit Verma, Founder & MD, Avinya Logistics & Industrial Parks said, “The 2023 budget of India is a beacon of hope for the working class, who form the backbone of our nation. The focus on job creation, skill development and providing social security to the working class is commendable. The emphasis on strengthening the technology adoption through payments infrastructure and Digilocker will go a long way in making a big impact in the lives of millions of Indians. The allocation of funds for skilling programmes, start-up ecosystem, and tax sops will benefit businesses and individuals alike. The budget strikes a perfect balance between economic growth and social welfare, making it a step towards a more equitable and prosperous India for all.”

Allcargo Logistics Ltd, an Allcargo Group company has announced the conclusion of its sale of a part of its logistics parks portfolio to global private equity investor Blackstone Group (“Blackstone”). This is in line with the agreement signed earlier, which has now been consummated with signing of Share Purchase Agreement (SPA). Allcargo will have cash infusion, conversion of OCDs and eliminate debt for transferred entity creating an impact of over ₹400 cr on the net debt. With the closure of the transaction, Allcargo’s consolidated net debt will fall below zero and company becomes cash positive. This closure also aligns with the company’s corporate strategy of being an asset-light organization at Allcargo Logistics level and will enhance the returns on capital employed. Additionally, credit ratings agency CRISIL has accredited Allcargo in its CRISIL A1 category with double A stable ratings as well as double A minus ratings watch with developing implications for its long term facilities and A1 Category positive ratings for its short term facilities thereby incrementally improving the long-term financial standing of the company. Blackstone will own 90% of these logistics parks and 10% will continue to be with Allcargo Logistics and will get demerged into TransIndia Realty under the ongoing scheme of demerger. Allcargo has built 5.5 million square feet of Grade A logistics parks across the National Capital Region (NCR) Delhi, Bengaluru, Hyderabad and JNPT in MMR (Mumbai). The assets in Bengaluru and Hyderabad along with the parks in Goa will get transferred under this transaction, while NCR, Hosur and MMR region will continue with the company. Post demerger, the new real estate company also has projects in the planning stage for another approx. 8.6 million square …

Suresh Kumar R, Chief Executive Officer, Allcargo Logistics says, “The budget is focused on continuity in the direction of macro policies and economic strategy. The seven priorities have a strong positive bias for infrastructure development. Developing national infrastructure and the government’s thrust on capital expenditure of Rs 10 lakh crore indicates that it is pushing forward with its transformative agenda. Furthermore, the first and last mile connectivity has been prioritized by identifying one hundred critical transport infrastructure projects especially for ports, coal, steel, fertilizer, and food grains sectors with investment of 75,000 crore, including 15,000 crore from private sources. To encourage energy efficiency government will promote coastal shipping as low-cost mode of transport for passengers and freight, through PPP mode with viability gap funding. To further ease the movement of the cargo in the country expenditure on the Dedicated Freight Corridor has been raised for the financial year and is 75 percent higher than the Rs 15,710.44 crore allocated for FY23. Additionally, to boost regional connectivity government is looking to revive fifty additional airports, heliports, water aerodromes and advance landing grounds. All of these provisions will help the country to bolster the strength of Indian manufacturing by assisting in seamless movement of goods and accelerate India’s integration into the global supply chain by strengthening its necessary physical infrastructure and helping to boost imports from India by lowering the logistics cost. Focus on Green growth, and tax benefits for lower income slabs aimed at youngsters and senior citizens completes a wholesome budget.”

Vipul Bhalla, Chief Business Officer, Pradhaan Air Express said, “The 2023 union budget reflects a continuation of the Government’s fiscal consolidation strategy. As India’s youngest cargo airline, Pradhaan Air Express is buoyed by the increased effective capital expenditure of 13.7 lakh crores and expected growth of 7% reflecting a bigger positive sentiment as compared to other world economies. Among other things, continuing the tax exemption for start-ups, reduction in Customs duties to spur domestic manufacturing, and allocation of 35000 crores for achieving net zero and Green growth are all welcome steps. Simplification in indirect taxes will also deliver higher exports and value addition in the economy. In related sectors, investments in Aerodromes and tourism, a boost for Electrical vehicles, semiconductors, and Lithium Ion battery manufacturing will all have a positive impact on air cargo capabilities and infrastructure. We believe the budget supports our economic recovery with improvements also expected in international and domestic air cargo volumes as the policies and measures unfold in the coming days.”

Huned Gandhi, Managing Director Air & Sea Logistics Indian Subcontinent, Dachser shares, “The Union Budget 2023 has a comprehensive coverage with a robust capex investment and a high focus on infrastructure development, which will benefit the logistics industry overall. The Budget 2023 also takes a long-term view with Saptarishi (7 top priorities) to help India consolidate its position amongst the top economies of the world. These are certainly challenging times with the slowdown of most global economies and it’s good to see India forecast a strong GDP growth in the years to come.”

Sunil Tyagi, Secretary, Warehousing Association of India (WAI) shares, “A hefty budget of Rs.75,000 crores for investment in 100 critical transport infrastructure projects for improved connectivity for ports, coal, steel, fertilizer, and food grains (including Rs.15,000 crores for private investors and the revival of 50 additional airports, heliports, water aerodromes and advance landing grounds with the intent of improving regional air connectivity, are all in alignment with National Logistics Policy. These measures will give a boost to the growth of economy. The Budget also seeks to setup a number of mechanisms to ease the regulatory and compliance framework in India. The implementation of these proposals will go a long way in improving India’s Ease of Doing Business rankings.”

Vipin Vohra, Chairman, Continental Carriers says, “This was the first normal budget after the Covid pandemic and amid a global slowdown with 7% growth rate along with Rs 1.97 lakh per annum per capita income. Hon’ble Finance Minister outlined seven priorities ‘Sapt Rishis’ for the ‘first Budget in Amrit Kaal’ • Inclusive development • Reaching the last mile • Infra & investment • Unleashing the potential • Green growth • Youth power • Financial sector It’s a well-balanced Budget that will create strong and stable macro-economic environment for growth and job creation. The Budget is likely to enhance business, tax payer sentiment and consolidate India’s growth prospects during this fiscal year. It has every potential to bring out a broad-based revival in the Indian economy by providing opportunities for citizens with focus on Youth. • Budget laid focus on the introduction of National Data Governance Policy which will ease the KYC process and reduce privacy breaches by using the Aadhar and Digi Locker platforms to simplify individual address reconciliation and verification. • Budget will incentivize the investments in infrastructure which will have multiplier impact on rise in growth and employment.  Increased capital investment outlay by 33.4% to 10 lakh crores.  Highest capital outlay of 2.4 lakh crore for Railways • Simplifying tax benefits for MSMEs and Start-ups. • The decision to scrap old polluting vehicles bodes immense growth for automobile manufacturers and will give a fillip to the electric vehicles industry which in turn will invigorate the components industry.”  Budget 2023 has laid emphasis on reviving of 50 additional Airports under Regional connectivity Scheme (RCS), which it is hoped will ease movement of Domestic cargo also along …

Anish Mathew, Chief Financial Officer (CFO), Gati Ltd: said, “In line with the government’s vision to build an integrated and efficient logistics ecosystem, the budget has proposed a slew of effective measures which will enhance the logistics competitiveness. With the development of transport infrastructure to build end-to-end connectivity, introduction of skill development programmes to build new-age skilled human resources and proposals to boost EV infra and green energy transition reflect an all-encompassing approach towards strengthening logistics efficiency and sustainability parameters. On the other hand, proposals to strengthen the MSME segment will drive demand for logistics service immensely, going forward.”

Mahendra Shah, Chairman, and Group Managing Director, V-Trans (India) Ltd says, “The significant progress with many sustainable development goals has increased the Indian economy size from 10th biggest to 5th biggest in last 9 years. The Government has taken several encouraging steps to boost the infrastructure and transportation industry. Logistics, infrastructure, and transportation is the future of our country. This year’s budget has shown the government’s commitment to the logistics and infrastructure sector. This highlights India’s futuristic growth and commitment to elements like the Data Governance Policy, Centres of Excellence on AI, Green Growth, and the conventional thrust areas of infrastructure have also received a big boost. Though the Union Budget 2023 did not provide much specific attention to the logistics and transportation sector. However, the government did announce various initiatives aimed at improving the overall infrastructure of the country, which could have a positive impact on the logistics industry. These initiatives include the allocation of ₹1.97 trillion for infrastructure development, plans to build new airports and modernize existing ones, and investments in the development of the National Highways network. Additionally, the government’s focus on increasing the use of technology in various sectors, including transportation, could also benefit the logistics industry. However, the industry has called for specific measures, such as tax incentives and investment in technology, to boost its growth and competitiveness.”