Logistics Industry Seeks Regulatory Reforms and Green Initiatives in Upcoming Union Budget

The logistics industry is hoping for reforms to improve ease of doing business and incentives for green initiatives in the upcoming Union Budget 2024-25. Industry leaders emphasize the need for infrastructure development, digital processes, tax reforms, and sustainability measures to drive growth and efficiency.

The logistics industry is eagerly anticipating the Union Budget 2024-25, with expectations of significant reforms to ease doing business and promote green initiatives. Key players in the sector are calling for streamlined regulations, digital processes, and tax clarifications to enhance efficiency and consistency.

R S Subramanian of DHL Express India highlighted the need for simplified GST administration and consistent customs procedures. Rizwan Soomar of DP World expects the Budget to prioritize infrastructure and logistics as growth drivers, in line with the government's interim Budget.

Industry leaders also anticipate incentives for green logistics to align with decarbonisation goals. Enhanced investment in multimodal connectivity and digitized clearance processes are vital for improved trade corridors, according to Kami Viswanathan of FedEx for the MEISA region.

Vineet Agarwal of TCI and Vishal Agarwal of Interem Relocations emphasized the importance of workforce upskilling and technological integration. Innovation, public-private collaborations, and SME support are crucial for sustainability and competitiveness, as noted by Nishith Rastogi of Locus.sh and Zaiba Sarang of iThink Logistics.

By addressing these key areas, the logistics industry aims to significantly contribute to India's economic growth.

(With inputs from agencies.)