Logistics industry applaud interim budget

Like other business sectors, the interim budget presented by Piyush Goyal on 1st February has also been applauded by the logistics industry for its focus on infrastructure development. “As announced in the interim budget, India has emerged as the fastest highway developer in the entire world, by building 27 KMs of highway each day. This has served as a huge boost to the logistics sector, especially the express delivery segment,” Chander Agarwal, MD, TCI EXPRESS, commented. “In addition, we believe that the export logistics will also improve, as the government has abolished customs duties on 36 capital goods, while also introducing full and comprehensive digitalisation of export and import transactions and leveraging RFID technology,” he further added.

Players from the automation side and new age technological solutions for logistics industry also believe the provisions in the interim budget are quite progressive in nature. “It is heartening to see the Government’s continued focus on its flagship programs, Digital India and Make in India, as key drivers to the nation’s economic growth, with a greater focus on digitisation in the rural economy. In line with this agenda, the announcements to set up a national centre for Artificial Intelligence and development of an AI portal through identification of nine priority areas in the segment will be critical to promote the adoption of these emerging technologies in the country and to position India as a front runner in this  space across the globe,” Vartul Jain, VP – Finance, GreyOrange opined. Kushal Nahata, CEO & Co-founder, FarEye added, “It was a great move by the Customs authorities to introduce comprehensive digitalisation of export and import transactions. Using RFID to enhance export logistics was a much-needed initiative. This will ensure seamless movement of goods, drastically improve visibility and reduce transportation costs. Digitizing core logistics processes is a key when it comes to building a sustainable supply chain.”

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