KCCI welcomes budget’s e-initiatives

 KCCI welcomes budget’s e-initiatives
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Mangaluru, Feb 02, 2022: The Kanara Chamber of Commerce and Industry has welcomed the e-initiatives proposed in the Union budget and also the various business-friendly steps announced by the finance minister.

“At KCCI, we welcome, e-initiatives taken including the Digital Rupee, E-passport and Unified Logistics Interface, Digital University, and PM E-Vidya. We also welcome the various business-friendly steps including the extension of Emergency Credit Line Guarantee Scheme, Battery Swapping Policy,” Kanara Chamber of Commerce and Industry president Shashidhar Pai Maroor stated in a press statement.

“The Union Budget of 2022 has proposed a big spending push of Rs. 20,000 crore for the logistics sector with contracts for 4 multimodal logistics parks in PPP mode, 100 PM Gati Shakti Cargo terminals in the next 3 years, National Highway expansion for 25,000 km in 2022-23, and Unified Logistics Interface program for JIT (Just in Time) Inventory Management. While welcoming this initiative KCCI, hopes that such spending will also include fund allocation for better connectivity between Mangaluru and Bengaluru,” he said.

“The cost of Logistics in India is around 14% of the GDP compared to the global average of approximately 8 percent. If the Government and the industry can reduce this cost, it will improve profitability for the business, and India would be competitive in the International Markets. The Railways has not been kept behind with the plan for 400 new Vande Bharat Trains, one station, one product for local business, and supporting small farmers,” he added.

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