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Vineet Agarwal, Managing Director, Transport Corporation of India
The new Government’s presentation of the Budget was preceded with high expectations not just for the country but also for supply chain and logistics industry. The Budget did not disappoint and for the first time we saw several industry-level announcements for the logistics sector. Just the fact that the Finance Minister used the word ‘warehouse’ more than 10 times indicates the focus on logistics!
According to the World Bank’s ‘Doing Business: 2014’, India’s rank is 134.. Logistics issues affect the ease of doing business and include cross-border traffic. In India, both inter- and intra-trade have been addressed in this Budget with specific announcements such as increasing 24X7 customs clearance at ports and airports, and a solid intent to implement Goods and Services Tax in the coming year. The impact of infrastructure on the transportation industry is massive and the Government’s plan to accelerate game-changing projects like the Diamond quadrilateral, Sagar Mala and dedicated expressways on high traffic density roads.
More thrust on multimodal transportation and better coordination between concerned ministries will help India be competitive in the global economy.
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