Rajesh Jaggi, Vice Chairman – Real Estate, Everstone Group on the recent budget

“It is encouraging to see that improving India’s logistics infrastructure has been a key agenda for the ruling government. In support of the government’s vision, the Union Budget 2022-2023 has prioritised the logistics sector and extended further impetus for growth.

The Finance Minister’s focus on the Gati Shakti plan is quite constructive. The plan for expressways, construction of 100 new cargo ports for multimodal logistics parks, along with urban metro systems expansion –  all of this will help spur the development of new storage and logistics facilities across the country. This will further help in lowering logistics costs. Moreover, the national highway network will be expanded by 25,000 kilometers this year, which will speed up road logistics transportation. The allocation of Rs. 20,000 crore to strengthen infrastructure projects will help to improve connectivity.

Another key point that has been discussed is the function of electric vehicles (EVs) in the logistics industry to promote sustainability. Additionally, the inclusion of technology advancements to enhance productivity will boost the performance of the logistics sector. Therefore, we feel that there is immense potential and scope to drive demand in the warehousing and logistics industry.”