‘Enhance infra allocation for ports, MMLPs, DFCs to boost efficiency’

Satish Lakkaraju, Senior VP and Global Head – Pharma and Airfreight at WIZ says, “The cargo and freight forwarding sector eagerly awaits the Union Budget 2024-2025, anticipating strategic measures to propel growth. Key expectations include enhanced infrastructure allocations for dedicated freight corridors, logistics parks, and port modernization to bolster efficiency and connectivity. Initiatives to integrate blockchain, AI, and IoT solutions, coupled with incentives for automation and digitization, are sought to drive innovation and process optimization. Regulatory reforms simplifying compliance norms and legal frameworks are desired to ease operational hurdles. Furthermore, the industry hopes for policies promoting sustainability, skill development, and public-private partnerships to nurture a robust and future-ready logistics ecosystem. A balanced approach addressing stakeholder interests is crucial for catalyzing the sector’s transformation.”