: Digitisation utmost requirement for Indian logistics sector #FinanceIndia #StockMarketNEWS #Business New Delhi: As the Indian logistics sector returns to normal operations after being severely impacted

@StockMarketNEWS Wed 28 Oct, 2020

Posted in: #Business #FinanceIndia #StockMarketNEWS

Digitisation utmost requirement for Indian logistics sector #FinanceIndia #StockMarketNEWS #Business
New Delhi: As the Indian logistics sector returns to normal operations after being severely impacted by the pandemic and the lockdowns, sector players feel that digitisation is the need of the hour for the segment.

They are of the view that the National Logistics Policy which is currently under works would digitally integrate all stakeholders and the processes involved in the operations.

“The foremost expectation from the National Logistics Policy is a digital integration of the highly fragmented players and processes of the logistics sector in India. The non-availability of such single window platforms makes the logistics sector too complicated,??? said Ambrish Kumar, Founder of Zipaworld and Group CEO, AAA 2 Innovate Private Ltd.

Noting that digitisation is the need of the hour for the logistics sector in India, Kumar said that government should promote and encourage the tech players to come forward to assist in a swift turnaround of the orthodox working model of the logistics sector.

Lancy Barboza, Managing Director of Flomic Group said that for the Indian logistics sector to achieve best global standards, port infrastructure should be improved, laws should be simplified as much as possible and ambiguities need to be discarded.

The logistics policy, she said, must come out with clear regulations for shippers, consignees, exporters and importers.

“Existing loopholes in legislation should be eliminated or mitigated as much as possible,??? Barboza said.

Rajesh Neelakanta, ED & CEO, BVC Logistics opined, tax exemption should be allowed for the sector’s exports during the pandemic period. He said that it will help logistics providers to stay afloat and see thru these difficult times.

“Further extensions in timelines for payment of tax dues/filing of returns for business done this financial year, to help tide over the huge cash flow crisis that businesses are going through currently, would be a strong support sentiment that the government can extend,??? he said.

He noted that one of the major challenges that a logistics service provider is facing is the different interpretations of the GST law by state enforcement officers.
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