Interim Budget Reaction: Mahindra Logistics

2 Feb 2024 , 09:36 AM

‘The Union Budget 2024’s pivotal focus on infrastructure development, aligns seamlessly with our vision for enhanced logistics efficiency. The government’s commendable commitment to supporting EV manufacturing and charging infrastructure is a significant stride towards sustainable mobility. We appreciate and commend the government’s efforts towards Green Energy, aligned with the Nation’s commitment for ‘net-zero’ by 2070.

The announcement of three major economic railway corridor programs, spanning energy, mineral, and cement corridors, port connectivity corridors, and high-traffic density corridors under the PM Gati Shakti initiative, is poised to be transformative. These corridors not only promise to decongest high-traffic areas but also elevate the safety and speed of passenger trains. The integration of dedicated freight corridors is poised to catalyse GDP growth and significantly reduce logistics costs.

With an increased outlay in FY25 and the expedited development of various infrastructure projects, the government’s proactive approach is set to spur economic growth. The India Middle East Europe Economic Corridor announcement is particularly game-changing, strategically positioning India on the global trade map. We at Mahindra Logistics, eagerly anticipates actively participating in and benefiting from these initiatives, ushering in positive transformations in the logistics and transportation sector.’