Mr. Coen Van der Maarel, MD, Kuehne+Nagel India  

‘The Union Budget 2023 has unequivocally outlined the nature of India’s macroeconomic trajectory for years to come. The Budget places a heavy emphasis on structural realignment and strengthening of the macroeconomic environment through its prioritizing of investments in infrastructure, green industry, and transitioning to cleaner energy.

Infrastructure-wise, we note with optimism the capital expenditure dedicated to the construction and development of 50 new airports and heliports, 100 transportation infrastructure projects, and dedicated freight corridors. Additionally, the promotion of coastal shipping through viability gap funding builds on the strength of the outlined infrastructural developments. These infrastructural investments strategically position the Indian economy for increased investments and overall growth. Furthermore, in alignment with Kuehne+Nagel’s core businesses, the implied increase in freight transportation and revenue generation would help in strengthening the sector’s productive capability.

With regards to the green industry and transitioning to cleaner energy, the moves to both increase spending and reduce costs pertaining to these sectors signal a strong shift towards India’s decarbonisation. The significant capital outlay dedicated to increasing clean energy’s role in India’s energy mix, together with the removal of customs duties on capital goods critical to the production of lithium-ion batteries, significantly contributes to decarbonisation. The government’s emphasis on this is likely to spur investment and skill development in relevant industries as well.

These investments are vital spearheads in India’s efforts to achieve net-zero carbon emissions by 2070. Kuehne+Nagel’s own ambition and efforts to achieve a zero-carbon future closely align with India’s goals as well. Our own investments and goals with energy-efficient solutions, carbon offsetting, and renewable energy usage, mirror the key green and clean investments and outcomes desired by the Union Budget 2023.

Looking ahead, Kuehne+Nagel recognizes and welcomes the Union Budget’s initiatives into critical infrastructure and decarbonisation. We look forward to a more sustainable future together.’