Post Budget Reaction: Mr. Bhavik Chinai, Group Ceo, BVC Logistics
The overall budget 2023-24 has been neutral towards business and positive towards individuals. The announcement to develop 50 new airports and helipads, once ready will make secure logistics significantly faster and safer. The huge infrastructure investment bumped up to 10,000cr by 33% will have a positive cascading effect on all industries, provide more employment and thereby increase circulation of money in the economy. The reduction in Import duty on Seeds for Lab grown diamond manufacturing will accelerate India’s rise to a global manufacturing leader in the entire diamond industry, lab grown as well as natural.Other ease of doing business initiatives like making PAN the universal company identifier, reducing compliances & more commissioners for faster dispute resolution are highly positive for improvement in day-to-day functioning for businesses. For the logistics & jewellery industries, we look forward to implementation of this budget positively.- Mr. Bhavik Chinai, Group CEO, BVC Logistics.