Budget 2024 Reactions: Logistics, Shipping & Supply Chain Sector Reacts to FM’s Proposals For Blue Economy 2.0 and Maritime Sustainability

Following Finance Minister Nirmala Sitharaman’s presentation of the interim budget for 2024, key players in the logistics, shipping, and supply chain sector have expressed their reactions.

The proposed budget includes the launch of Blue Economy 2.0 and other initiatives aimed at fostering innovation and promoting climate resilience.

Here are the insights from industry leaders:

Pushpank Kaushik, CEO of Jassper Shipping

We laud the launch of Blue Economy 2.0, which emphasizes climate resilience and advocates restoration in maritime activities. The four-year turnaround time goals of 27% and 85% align with Jassper’s dedication to efficiency in maritime trade. This initiative reflects our shared commitment to a more resilient and environmentally conscious marine future. It can benefit from implementing eco-friendly technologies, fuel-efficient vessels, and strategies to reduce carbon emissions, contributing to the industry’s overall environmental responsibility.

Furthermore, concentrating on restoration can result in better water quality, biodiversity preservation, and less of an influence on marine habitats—all of which are critical for the shipping industry’s long-term viability. We are eager to work together with partners in business, government, and the neighborhood to accomplish these shared objectives while upholding a sound balance between economic prosperity and environmental responsibility.

Santhosh Reddy, CTO and Co-Founder, ShakeDeal

The supply chain industry stands to gain from the technologically proficient youth in India, constituting a formidable force in the upcoming years. This affirmative move is expected to facilitate the influx of new talents and ideas, offering advantages to various sectors.

Moreover, we believe that the allocation of ₹1 lakh crore for long-term, interest-free loans to foster innovation will fortify the nation’s technological environment. We are eager to witness the evolution of supply chain processes through imminent technological innovations spurred by government backing.