Quote on the GST reforms announcement from Rizwan Soomar, CEO & MD, Middle East, North Africa & India Subcontinent, DP World
MUMBAI: Mr. Rizwan Soomar, CEO & Managing Director, Middle East, North Africa & India Subcontinent, DP World commented on the recent GST reforms.
“The Finance Minister’s GST structure streamlines tax rates, notably benefiting everyday essentials and key sectors, which will stimulate consumer demand and domestic consumption. This expected uptick in market activity directly translates into increased trade volumes leading to heightened demand for logistics across supply chains and offering opportunities to optimize operations and scale efficiently. The landmark reform will catalyse Government’s thrust on reducing the logistics cost by lowering GST on trucks, tyres, cement, and steel reducing freight and infrastructure costs and creating efficiencies across supply chains. The transformative move to strengthen India’s supply chain backbone and accelerate infrastructure growth will reinforce confidence in India’s growth story and position the economy for sustained momentum. DP World is uniquely equipped to support this momentum through our integrated end-to-end solutions. Spanning ports, terminals, pan-India rail freight connectivity, cold chain warehousing, digital trade enablement and trade finance expertise, we drive seamless and efficient movement of goods across sectors that stand to benefit directly from the tax rate rationalization”
Rizwan Soomar, CEO & Managing Director, Middle East, North Africa & India Subcontinent, DP World.