In­ter­nal con­sump­tion needs ur­gent ad­dress­ing

Cargo Talk - - Budget -

Ac­cord­ing to An­shul Sing­hal, CEO, Embassy In­dus­trial Parks, “In­dia is one of the fastest grow­ing economies in the world to­day. The in­ef­fi­cient lo­gis­tics ac­count for about two per cent of the coun­try’s GDP, so high costs could be at­trib­uted to in­ad­e­quate in­fra­struc­ture. There is a mas­sive need of op­ti­mi­sa­tion. There is no doubt that the cur­rent gov­ern­ment is highly sup­port­ive of de­vel­op­ing lo­gis­tics and in­fra­struc­ture. We are aware of the fis­cal deficit and re­duc­ing ex­ports in the coun­try and this is a rea­son to worry, but, the high cost of lo­gis­tics in In­dia is com­ing into sharp fo­cus as one of the key fac­tors af­fect­ing the coun­try’s cost com­pe­tency.” “We hope that new re­forms like ‘Make in In­dia’, GST, ‘Dig­i­tal In­dia’ and some re­liefs given to the in­dus­try in the up­com­ing bud­get would help en­hance per­for­mance in this seg­ment and help el­e­vate the trade na­tion­ally through fo­cus­ing on im­prov­ing trade ef­fi­cien­cies within the coun­try, cre­at­ing mil­lions of new jobs and con­tribut­ing sig­nif­i­cantly to the coun­try’s GDP,” he con­tin­ues.

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