Budget 2024-25 to turn India into a logistic powerhouse

25 Jul 2024 CW Team

"This budget has hit all the right notes," said Gregory Goba Ble, Managing Director-India, UPS highlighting its focus on infrastructure development, technology, and support for MSMEs, including traditional artisans through innovative measures such as e-commerce export hubs.

Rizwan Soomar, CEO and Managing Director- World North Africa and India Subcontinent, DP added, "The decision to set up more integrated industrial parks and e-commerce export hubs will facilitate manufacturing output, boost domestic consumption, and enhance trade and logistics activity." He also noted that the lower corporate tax rate on foreign companies would help attract overseas companies and capital.

Kami Viswanathan, President- MEISA region, FedEx, said, "Allocating 3.4% of GDP towards infrastructure, strengthening the Jan Vishwas Bill 2.0, and incentivizing states to implement Business Reform Action Plans will create seamless trade corridors."

Uday Sharma, Chief Commercial Officer, Allcargo Gati Ltd, remarked, "Enhancing access to credit and promoting business growth acts as a catalyst for MSMEs, enabling them to expand operations and thrive. This initiative will not only benefit MSMEs but also have a positive ripple effect on logistics partners like us."

Anshul Singhal, Managing Director, Welspun One & Chairperson, ASSOCHAM National Council on Logistics & Warehousing, noted, "India's rapidly expanding warehousing industry is set to attract significant foreign direct investment, promising substantial returns for investors and establishing the country as a highly profitable market."

Vineet Agarwal, Managing Director, Transport Corporation of India Ltd (TCIL), said, "Enhanced rural critical infrastructure will enable us to boost our cold supply chain footprint, along with general warehousing and transportation network, further optimizing our operations to provide more reliable, efficient services to our customers."

"The budget's ownership, leasing, and flagging reforms are crucial for the Indian shipping industry," said Ashish Agarwal, MD & CEO, Seros. "Simplifying registration and incentivising ship-flagging will boost our national fleet's competitiveness, increase India's share in the global shipping market, and create substantial employment opportunities." Srikumar Krishnamurthy, Senior Vice President & Company Group Head-Corporate Ratings, ICRA Ltd, added, "Given its direct linkage to the economy, proposals around enhanced outlays for road connectivity, rural development, and infrastructure investments for road logistics demand."

This budget's strategic initiatives are seen as critical steps towards establishing India as a global logistics and shipping hub, enhancing connectivity, and promoting economic growth across key sectors.

(Source: Business Standard)

The Union Budget for 2024-25 has taken significant steps towards positioning India as a global logistics powerhouse by focusing on infrastructure development, leveraging technology, and supporting MSMEs, according to logistics and shipping industry executives. This budget has hit all the right notes, said Gregory Goba Ble, Managing Director-India, UPS highlighting its focus on infrastructure development, technology, and support for MSMEs, including traditional artisans through innovative measures such as e-commerce export hubs. Rizwan Soomar, CEO and Managing Director- World North Africa and India Subcontinent, DP added, The decision to set up more integrated industrial parks and e-commerce export hubs will facilitate manufacturing output, boost domestic consumption, and enhance trade and logistics activity. He also noted that the lower corporate tax rate on foreign companies would help attract overseas companies and capital. Kami Viswanathan, President- MEISA region, FedEx, said, Allocating 3.4% of GDP towards infrastructure, strengthening the Jan Vishwas Bill 2.0, and incentivizing states to implement Business Reform Action Plans will create seamless trade corridors. Uday Sharma, Chief Commercial Officer, Allcargo Gati Ltd, remarked, Enhancing access to credit and promoting business growth acts as a catalyst for MSMEs, enabling them to expand operations and thrive. This initiative will not only benefit MSMEs but also have a positive ripple effect on logistics partners like us. Anshul Singhal, Managing Director, Welspun One & Chairperson, ASSOCHAM National Council on Logistics & Warehousing, noted, India's rapidly expanding warehousing industry is set to attract significant foreign direct investment, promising substantial returns for investors and establishing the country as a highly profitable market. Vineet Agarwal, Managing Director, Transport Corporation of India Ltd (TCIL), said, Enhanced rural critical infrastructure will enable us to boost our cold supply chain footprint, along with general warehousing and transportation network, further optimizing our operations to provide more reliable, efficient services to our customers. The budget's ownership, leasing, and flagging reforms are crucial for the Indian shipping industry, said Ashish Agarwal, MD & CEO, Seros. Simplifying registration and incentivising ship-flagging will boost our national fleet's competitiveness, increase India's share in the global shipping market, and create substantial employment opportunities. Srikumar Krishnamurthy, Senior Vice President & Company Group Head-Corporate Ratings, ICRA Ltd, added, Given its direct linkage to the economy, proposals around enhanced outlays for road connectivity, rural development, and infrastructure investments for road logistics demand. This budget's strategic initiatives are seen as critical steps towards establishing India as a global logistics and shipping hub, enhancing connectivity, and promoting economic growth across key sectors. (Source: Business Standard)

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..