New Delhi, Dec 4 (UNI) Regulatory reforms are most important to build a sound supply chain in the country, Godrej Industries Chairman Adi B Godrej said today.
''There is a need for setting aside redundant legislation, organising logistics out of the farm and addressing problems of low yield in the country, the development of the rural supply chain will remain a challenge,'' Mr Godrej said while addressing a session on the concluding day of the India Economic Summit, organised by the World Economic Forum and CII.
He said though currently the indirect tax regime was a handicap to the logistics chain in India, modern legislation would ensure the integrated benefits of cost reduction, increased consumption and avoidance of tax evasion.
He added that there is a huge opportunity in the development of a cold chain logistics system in India.
Attributing the difficulties of supply chain to lack of infrastructure, presence of multiple intermediaries and basic problems like that of electricity and power, Coca-Cola India President and CEO Atul Singh said it was important to target inclusive growth of the economy with the participation of the agricultural sector.
Transport Corporation of India Executive Director Vineet Agarwal said infrastructure, bureaucracy, regulatory regime and lack of cold chain were limiting the development of the supply chain in India.
Mr Singh also stressed on the need for the government to devise a framework for co-existence of all stakeholders in the supply chain.
Considering lack of infrastructure and inadequate farmer-education as the primary constraints, DHL Exel Supply Chain Asia Pacific CEO Paul H Graham recommended the Public-Private Partnership model as a feasible solution to the development of logistics chain in the country.
He also underscored the need for developing the rail network as an efficient, low-cost, environment-friendly option.