As anticipation builds ahead of the Union Budget 2024-25, India’s logistics industry is poised with expectations of pivotal reforms aimed at bolstering operational ease and promoting sustainability initiatives. Stakeholders across the sector are advocating for streamlined regulatory frameworks, enhanced digital integration, and robust incentives to foster green practices.
A core concern voiced by industry leaders is the imperative to improve the ease of doing business. This includes simplifying GST administration, standardising customs procedures, and clarifying TDS regulations. Such measures are seen as critical to reducing operational complexities and encouraging greater private sector participation. In alignment with national decarbonisation goals, there is a concerted push for the inclusion of incentives and benefits tailored towards green logistics. Leaders emphasize that fiscal support for eco-friendly initiatives will not only aid in achieving environmental targets but also enhance overall operational efficiency. Infrastructure development remains a cornerstone of the industry’s wishlist, with calls for substantial investments in multi-modal connectivity and advanced air cargo terminals. Seamless trade corridors are envisioned to catalyse smoother cargo movement and reduce logistical bottlenecks.
Furthermore, stakeholders underscore the need for continued focus on trade facilitation through digitalisation and process optimisation. This approach aims to minimise delays and enhance efficiency across the supply chain, ensuring swift adaptation to market dynamics. From a policy perspective, the inclusion of diesel under the GST ambit is advocated to regulate costs effectively, echoing sentiments for broader tax reforms beneficial to the logistics ecosystem. Moreover, support for SMEs, startups, and skill development initiatives is highlighted as pivotal for fostering innovation and resilience within the sector. Public-private collaborations are also encouraged to drive technological advancements and navigate evolving market landscapes effectively.
