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Union Budget should create road map for sustainable growth in logistics sector: Industry

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The upcoming Union Budget should not only create a roadmap for sustainable growth in the logistics sector but also incentivise the industry to adopt sustainable practices, operators said on Thursday. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget 2023-24 in the Lok Sabha on February 1. FedEx Express Senior Vice-President Middle East Indian Subcontinent and Africa (MEISA) Operations Kami Viswanathan in a statement said, “We recommend the implementation of zero rating of Goods and Services Tax for all international transportation services; “Most of the international GST/VAT legislations ‘zero-rate’ international freight transportation services. This would facilitate trade and align India with international tax practices as well as reduce logistics costs.”

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