Infra all the way
Finance Minister Arun Jaitley laid down the Union Budget 2018-19 on February 1, 2018. For the logistics segment, the budget has proven to be neutral yet positive in the long-run. The government’s impetus on increasing the efficiency and modernising of ports and improving the road infrastructure will provide a fillip to the sector. The industry has mix reactions on the Budget, where on one hand they are happy with the allocation to infrastructure, while on the other there is not so much to cheer about, we unravel more, flip over to read.
The logistics industry is getting its desired attention. At the ‘The Assam Global Investor Summit’, the government announced the logistics sector as one of the 12 focus industries in Northeast and Assam in general. On the aviation front, according to the Global Trade Barometer (GTB) from DHL, India’s economy holds the brightest growth prospects of the world’s seven largest economies. CARGOTALK in its cover story reveals the dynamics and evolution of air cargo industry in the last decade and what lies on the road ahead.
On the maritime front, PM Narendra Modi recently dedicated the fourth container terminal at Jawaharlal Nehru Port Trust at the Ground-Breaking Ceremony of Navi Mumbai International Airport. According to him, the Sagarmala project is ushering not only development of ports but also port-led development. It is high time to build a proper system and increase use of Information Technology (IT) in managing business. The application of IT can transform the existing challenges of cargo industry to the advantages of Indian trade. Adoption of IT will aid the movement of cargo in the Indian supply chain.