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    Quote for Pre-Budget Expectation- Consumer Brands and Tech Logistics Companies

    Published on January 28, 2021

    Quote: 2021 Budget Expectations

    Dr. Yogesh Bhatia, Founder, Detel

    “With the promotion of clean energy priority on the government agenda, we have strong expectations from the union budget when it comes to the EV industry. We expect the central government to provide an income tax holiday for EV unit operations. This will lead to having a competitive price on electric vehicles.  The government should also consider lowering ROI on the electric vehicle fraternity.

    In order to encourage people for the faster adoption of EVs, we expect the government to allot budgets for providing subsidies on low-speed electric vehicles. Another key step that the government can take is to waive off the parking fee and toll rates for electric vehicles that will further push green mobility in India.”

    Quote: 2021 Budget Expectations

    Mr. Arnav Mutneja, Founder, ZinQ Technologies

    As we are stepping into a new decade, FY 2021-22 holds a lot of promise for the business that faced a major halt due to Pandemic, we expect some salient steps for the forthcoming fiscal year to strengthen the electronic consumer market. We expect the government to initiate some Production Linked Incentive schemes to reduce import dependence on China and boost domestic manufacturing. With this, we expect the government to make sure that this initiative to be utilized by both large MNC’s and SME’s.

    On the R&D front, we also expect the government to allot a budget for incentives for centers of research and the companies that are investing in breakthrough technologies.

    Narasimhan Raghavan, Director, Raag Technologies and Services Pvt Ltd (RTS), providing best-in-class logistics solutions to leading

    manufacturing and distribution companies.

    “As the saying goes, every cloud has a silver lining. 2020 has been a game-changing year for the logistics sector. As we await the Budget 2021, we are expecting that the government will take further steps to strengthen the sector with reforms related to GST, and most importantly accelerate the implementation of initiatives under the Sagarmala and Bharatmala projects. It must be noted that logistics is also one of the highest employment-generating sectors currently. Therefore, the government must look at creating a thriving ecosystem for logistics leading to the overall economic growth.” 

    Quote: 2021 Budget Expectations

    Mr. Alok Sharma, CEO & Co-founder, NebulARC

    “In 2020, logistics proved to be a crucial sector for keeping the economy up & running. As India gears up for COVID-19 vaccine distribution this year, the logistics sector needs to gear up big time to ensure a smooth supply chain. With the union budget set to be announced, we expect the government to invest in the digitization of supply chain management with a focus on new technologies like AI, Machine learning, and IoT. These technologies will eventually decrease the pressure on pharma companies in effectively managing logistics.

    The government should also consider lowering ocean freight rates that are driven by the demand-supply scenario. This will also reduce the shortage of containers that occurred due to port congestion and delays last year. Besides this, we also expect the government to take a proactive step in funding large port construction for container trade to fuel the sector’s growth.”

    Quote: 2021 Budget Expectations

    Abhik Mitra, MD & CEO, Spoton Logistics

    “As India Inc. sets sights on the Budget 2021-2022, I would like to draw the attention of the honourable finance minister towards a few key pain points of the logistics industry that must be addressed in this year’s budget. With logistics holding the economy together even during the COVID-19 pandemic and set to play an even more crucial role in current times, the government must look at providing the much-required financial and infrastructural support to the sector. With India’s aim to reduce the logistics cost from the current 14 percent of GDP to less than 10 per cent, it is imperative for the government to bring about a groundbreaking transformation in the logistics sector that encapsulates an increased use of digital technologies and automation. We urge the government to take dedicated measures to boost digitalisation so as to drive transparency and bring in the required predictability in logistics. Another key step that the government must take is to bring Fuel under the purview of GST as this could fundamentally transform the Indian logistics sector. While goods are moved from one place to another, it is generally required for the transporter to carry a hard copy of the invoice, the government must also do away with this by way of e-way bill digitalisation. On the demand side, the government can look at driving the overall consumption which could be achieved by reducing personal income tax and GST on various goods, etc.”