Monumental stride in positioning India as logistics powerhouse: Industry

The Union Budget for 2024-25 has taken a "monumental stride" towards positioning India as a global logistics powerhouse as it focuses on infrastructure development, leveraging technology and supporting MSMEs, logistic and shipping industry executives said on Tuesday.

"The Union Budget is a monumental stride towards positioning India as a global logistics powerhouse," Gregory Goba Ble, UPS Managing Director in India, said.

"This budget has hit all the right notes - focusing on infrastructure development, leveraging technology and supporting MSMEs including traditional artisans through innovative measures such as e-commerce export hubs,"

He said the initiatives for infrastructure development, particularly the announcement of new economic corridors, along with strategic investments in roads and airports, are poised to streamline logistics operations, reduce costs and enhance connectivity across key regions, charting a clear path towards a more robust, efficient and globally competitive