Abhik Mitra, CEO & MD, Spoton Logistics
The 2019 budget seems promising as Indian customs is introducing full and comprehensive digitalisation of export/import transactions and leveraging RFID(radio-frequency identification) technology to improve export logistics. We see positive knock-on effects of higher consumption and potentially improving highway infrastructure provided the implementation on the ground is tightened.
Tax benefits that have been given to individual tax payers will stimulate consumption and positively impact consumption linked industries like logistics. Improvement in logistics will further help in seamless movement of goods and reduce transactions cost for traders, leading to enhanced competitiveness of domestic products in the global markets. With infrastructure development being given prominence, it will be a positive step in developing regional and state market hubs.It will serve as gateways to your respective regions and this will further drive greater multi-modal movements, increase speed and reliability of shipments moved from origin to destination and therefore cut total logistics costs, particularly in terms of working capital and reduction in potential loss of sale.