| | SEPTEMBER 202319What is your perception about the latest budget helping to position the industry to be on a competitive edge on the global market?The government is taking vital steps to accommodate the rapidly growing logistics landscape in the country. In the Union Budget 2023, this was reflected in various reforms and allocation for flexible policies and better infrastructure. As a budding logistics company, we support the government's aim to reduce the overall logistics cost from a double-digit to a single-digit number. To further build upon the strategic framework, the Budget proposed a 33Percentage hike in capital investment including provisions to construct new airports and expand railways as well as incentivizing private investments in infrastructure. This will effectively ensure better connectivity, increasing capacity, and better productivity for the system thereby reducing overall logistics costs.How is the industry reorienting its strategies to meet the demands within and outside the country, on the same? How is it helping manage transportation costs?In order to transform India into an attractive logistical hub, the government launched various initiatives to boost the sector digitally as well as with physical infrastructure enhancements. E.g., a portal to decentralize the e-commerce industry, Open Network for Digital Commerce (ONDC) was recently introduced to offer equal opportunities to small& medium businesses. Apart from that, the National Logistics Policy was a crucial move to streamline the sector and grow its potential. Under this policy, many reforms and roadblocks were addressed. This year's budget contributed further by accommodating provisions for the railways ­ the highest it has ever been and developed of dedicated freight corridors. This is a welcomed move to increase overall freight capacity and allow for more efficient connectivity options. To realize the goal of becoming a global manufacturing hub, the government is now working towards building infrastructure to promote flexibility and better connectivity across the country. Eg: Rail, being one of the most efficient modes of transportation, will help in reducing cost reduction as well as reducing greenhouse emissions by decreasing reliance on road and air connectivity only. How has this influenced investor sentiment?After the global lockdown, the potential of logistics and last-mile delivery emerged as a sunrise sector that has immense potential of becoming a lucrative industry. This led to several initiatives being implemented due to the influx of huge investments to transform and truly leverage the benefits offered by the sector. Major institutional investors are keen to tap into this opportunity, waiting for the right, well-versed To realise the goal of becoming a global manufacturing hub, the government is now working towards building infrastructure to promote flexibility and better connectivity across the country
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