Cargo Breaking News
Sharing his views on the Union Budget 2923, Deepak Shrivastava, MD Indian Sub-continent, UPS said, “The Union Budget for 2023 recognises the strides taken by the Indian economy to be the fifth largest in the world and reinforces a sustainable economic development agenda for the future. Action on strengthening infrastructure and supporting MSMEs will help speed up supply chain growth and boost cross-border trade. Plan to set up more airports and heliports, proposed urban infrastructure investment for tier two and three cities will strengthen regional connectivity, which is important to facilitate trade.”
He added, Exports are key for global trade and for the logistics sector to be globally competitive in order to support India’s target of a $5 trillion economy. Reduction in customs duties for certain sectors will support the government’s target of an exponential jump in goods and services exports.
“MSMEs are crucial not just for the logistics industry but also for the overall economic growth of India. Therefore, it’s good news that the government has focussed on their finance requirements with a revamped credit guarantee scheme and access to collateral free loans.
It’s also extremely encouraging to see the push towards green growth. It signals a clear shift and focus on sustainability and the environment.
Overall, integrated planning, co-ordinated implementation of projects and a supportive policy framework will be extremely important and will likely have a positive long-term impact for the logistics sector.”
