CARGOCONNECT-MARCH2024 - Flipbook - Page 19
BUDGET 2024 : FOCUS
The budget has laid the roadmap
for a robust, inclusive, and
widespread development to
turn the goal of Viksit Bharat
or developed India into a reality.
The budget has green-lighted
an era of resource efficient and
sustainable economic growth to
become globally competitive.
The viability gap funding to build 1 gigawatt
(GW) of offshore wind energy will pave the way
for diversification of renewable energy portfolio,
making India renewable energy-resilient. For
the logistics industry, the budget proposal to
develop an enabling EV ecosystem by strengthening manufacturing capabilities and charging
infrastructure is extremely encouraging. The
continued CAPEX boost will further accelerate
the progress towards a fully developed and
efficient multimodal logistics system critical to
make India a global manufacturing hub. Focus on
developing port connectivity, railway corridors
and decongesting high-traffic corridors will usher
in a new era of logistics efficiency.
SHASHI KIRAN SHETTY
Founder and Chairman, Allcargo Group
The interim budget looks
promising and, in the direction to achieve the set goals.
Various announcements made
demonstrate the government’s
commitment to bolstering the
logistics sector, particularly
for Micro, Small, and Medium
Enterprises (MSMEs). The focus
on providing timely finances,
cutting-edge technologies,
and relevant training reflects
a strategic effort to enhance
competitiveness on a global
scale. The MSMEs are one of the keys to India’s
growth, and such support offered to them will
boost domestic manufacturing. Additionally, the
introduction of major economic railway corridor
programmes under PM Gati Shakti is a pivotal step.
These initiatives, aimed at enabling multimodal
connectivity, are poised to elevate logistics
efficiency, reduce costs, and decongest hightraffic corridors. The resulting improvement in
operational efficiency in overall logistics holds
the potential to boost GDP growth and significantly
cut down on logistic costs
JB SINGH, Director, MOVIN Express
CARGOCONNECT MARCH 2024 | 19
