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The Union Budget 2024–25 introduces a significant overhaul of tax structures and customs duties, a move set to bolster domestic production and enhance the global competitiveness of Indian products.
The move is expected to stimulate growth and open new avenues for Indian exports to the international markets. Similarly, reductions or exemptions in Basic Customs Duty (BCD) for mobile phones, critical minerals, leather, textiles, etc. are set to increase domestic demand and in turn, accelerate logistics movements globally.
Furthermore, the budget's support for MSMEs and the e-commerce sectors through financing, regulatory changes, and technology assistance will empower them to thrive and compete internationally. These measures will not only strengthen these sectors but will also support the logistics industry in facilitating seamless global trade.
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