Quote on Budget Reaction by Mr. Girish Aggarwal, Managing Director, APM Terminals Pipavav
Below the Quote on Budget Reaction by Mr. Girish Aggarwal, Managing Director, APM Terminals Pipavav
“The Union Budget 2025-26 shows strong support for India’s ports, shipping, and logistics sectors. Extending customs duty exemptions on shipbuilding materials for 10 more years and offering tax benefits to inland vessels will boost local shipbuilding and promote inland water transport. The Rs.25,000 crore Maritime Development Fund is a big step towards providing long-term financial support, fostering healthy competition, and encouraging sustainable growth in the maritime industry. This budget is a commendable step towards strengthening India's position in global trade and logistics.
The government’s focus on boosting exports through measures like the Export Promotion Mission, simplification of customs procedures, and extended export timelines for handicrafts and leather sectors will significantly enhance India's trade footprint. These steps, coupled with rationalized customs tariffs and reduced duties, will drive both export growth and domestic consumption. Transforming India Post into a large public logistics network with 1.5 lakh rural post offices will improve last-mile delivery and connect rural businesses to broader markets. Providing private companies access to PM Gati Shakti data will simplify project planning and strengthen public-private partnerships. This budget lays a strong, forward-looking foundation for growth in the maritime and logistics sectors.”
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