Latest News | 'Prioritise Incentives for Logistics Sector to Promote Integration with Global Markets'
Get latest articles and stories on Latest News at LatestLY. The government needs to prioritise incentives that enhance global connectivity and bolster logistics and supply chain, Mahindra Logistics Managing Director and Chief Executive Officer Rampraveen Swaminathan said ahead of the Union Budget.
Mumbai, Jan 30 (PTI) The government needs to prioritise incentives that enhance global connectivity and bolster logistics and supply chain, Mahindra Logistics Managing Director and Chief Executive Officer Rampraveen Swaminathan said ahead of the Union Budget.
"The upcoming budget presents a pivotal opportunity to strengthen India's logistics and supply chain sector, a backbone of economic growth and a key enabler of trade and commerce," Swaminathan said on his company's Budget expectation.
The Union Government is set to present the 2025-26 Budget on February 1.
"To drive India's logistics sector toward global competitiveness, we urge the government to prioritize incentives that enhance global connectivity and enable seamless integration with international markets," he said.
Swaminathan also said that by prioritising infrastructure investments across highways, expressways, multi-modal transport networks, and logistics parks, the government can catalyse sectoral transformation.
Accelerating automation, digitisation, and green logistics adoption, backed by advanced EV infrastructure, will foster efficiency and sustainability, according to him.
Measures aimed at reducing logistics costs, enhancing skill development, and formalizing gig economy employment through comprehensive regulatory frameworks will drive inclusivity and innovation.
Additionally, as per Swaminathan, enforcement of targeted incentives for the warehousing sector will not only boost infrastructure development but also position India as a strategic hub for global trade.
A forward-thinking budget that addresses these priorities will elevate India's global competitiveness and position the nation as a leader in logistics innovation and manufacturing excellence, he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)