Shashi Kiran Shetty, Founder & Chairman, Allcargo Group comments on Budget 2024

”The budget has laid the roadmap for a robust, inclusive, and widespread development to turn the goal of Viksit Bharat or developed India into a reality. The country is geared to enter the accelerated phase of growth keeping environment sustainability the key focus. The budget demonstrates the government’s vision to facilitate green growth and renewable energy transition. The viability gap funding to build 1 gigawatt (GW) of offshore wind energy will pave the way for diversification of renewable energy portfolio, making India renewable energy-resilient. The budget has green-lighted an era of resource efficient and sustainable economic growth to become globally competitive. Announcement of large credit availability to the private sector will have a multiplying impact on the infrastructure development and overall economic development. 
For the logistics industry, the budget proposal to develop an enabling EV ecosystem by strengthening manufacturing capabilities and charging infrastructure is extremely encouraging, we are aligning our operations with the country’s sustainability goals. The continued capex boost will further accelerate the progress towards a fully developed and efficient multimodal logistics system critical to make India a global manufacturing hub.  Focus on developing port connectivity, railway corridors and decongesting high-traffic corridors will usher in a new era of logistics efficiency. All in all, it’s a growth-focussed budget which has ticked all the important boxes.”