Union Budget 2025 :”This year will be a crucial year for supply chain players”, Allcargo Group’s Ravi Jakhar
MUMBAI : The Union Budget for the upcoming financial year is slated to be presented on February 1, 2025, by Finance Minister Smt. Nirmala Sitharaman. It has been anticipated that the Narendra Modi Government may consider slashing income tax for individuals earning up to Rs 15 lakhs per annum and extend the tax relief bracket in a bid to provide relief to the middle class and boost consumption, as per several reports.
Speaking on behalf of the logistics sector, Ravi Jakhar the Chief Strategy Officer of Allcargo Group underlined his sector’s expectation from the Union Budget 2025.
Ravi Jakhar said, “For the global supply chain players, 2025 will turn out to be a crucial year as the Trump administration’s tariff measures, prospective de-escalation of geopolitical tensions as well as unpredictability in global economy are expected to impact the trade momentum, thus reshaping the supply chain landscape. The players need to be agile in aligning and planning the capacity and resource deployment to meet the evolving demand. On the new-age technology adoption front, the global players will continue to adopt automation and shared services models to address scarcity of manpower.”
Ravi highlights the enabling role the logistics industry plays in the economic growth of the India on the back of policy support, technology integration and continued infrastructure development.
“The logistics industry will set the framework for accelerated growth for the economy with enhanced capacity and capabilities, as India aims to become a $5 trillion economy by FY27-28 powered by sustained growth in the manufacturing sector. In addition, the rise of quick commerce in terms of speed and scale will redefine the domestic distribution model and open up new frontiers in supply chain optimization through new-age data-driven technologies,” added Ravi.
As far as logistics infrastructure development is concerned Ravi opined, “PM Gati Shakti will bolster the multimodal connectivity, paving the way for a balanced and efficient modal mix. The year will also become a landmark year in the mission to achieve cost and time-efficient cargo transit, as the western dedicated freight corridor is likely to be operational by end of 2025. On the other hand, National Logistics Policy will create an integrated digital platform for real-time data exchange to boost drive efficiency and visibility. All in all, the logistics industry will emerge as the backbone of the Viksit Bharat@2047 vision.”