We are pleased to note that the Union Budget, is progressive, focuses on growth and is in line with our expectations. The Government’s focus on consistently investing in infrastructure development across the country bodes well for the Indian economy and more specifically for the logistics industry. The focus on public investments, by expanding the National Highway network by 25,000kms, the Gati Shakti masterplan with seven engines, 100 new cargo terminals, will give an impetus to the growth of the industry and help bring efficiency in logistics operations. We must also recognize the push for utilizing and promoting a digital ecosystem, whether that be with the launch of Gati Shakti and the numerous opportunities it initiates or the adoption of eVehicles; it further streamlines systems and processes, propelling the idea of Aatmanirbhar Bharat.
The prioritization of technology is a 2-pronged strategy that also seeks to drive cleaner operations. The announcement of the special policy for battery swapping, introducing a uniform standard for EV batteries, encouraging the private sector to engage in sustainable business models and setting up additional public charging stations, have the potential to revolutionize the eVehicle industry. Moreover, eVehicles can also play a key role in last-mile logistics, a feat that can assist the industry in reducing its carbon footprint. The Government has also highlighted initiatives that will be beneficial for all by reducing the surcharge on long term capital gains.
While the budget carries good news for the logistics sector, we are happy to note the Government’s efforts in propelling areas such as infrastructure, digitalization, sustainable practices and citizen well-being, all of which require a special focus going into the new financial year. The world is now acclimated to COVID-19 and we are keen to see the subsequent results of these initiatives on the nation, going forward.”