Budget Expectation 2024: Kami Viswanathan, President – MEISA, FedEx Express

22 Jan 2024 , 01:00 AM

“FedEx advocates for a strategic allocation towards infrastructure development for more efficient multimodal logistics. Additionally, we emphasize a focus on digitization in the logistics sector to accelerate speed and ease of doing business.

Recognizing the impact of the National Logistics Policy and PM Gati Shakti National Master plan, alongside prioritizing road, sea, and rail cargo infrastructure, we see the expansion of airports as exciting avenues for growth. We urge a consistent budgetary emphasis on expanding airport infrastructure for cargo, strengthening regional airports and developing dedicated transhipment hubs to optimize belly and freight capacities. We underscore the importance of digitally advancing customs clearance processes through cutting-edge technologies such as artificial intelligence, machine learning, blockchain, and big data. This approach promises improved risk management, compliance, efficiency, and analytics.

As India targets lowering of logistics costs and a top 25 global rank by 2030, we anticipate budget initiatives that will sustainably boost manufacturing and trade, particularly benefiting and incentivizing SMEs. We also anticipate initiatives towards greater trade facilitation and further fostering a business-friendly environment aligning with the USD 5 trillion economy goal.”