Allcargo Global Logistics has given their reaction on budget 2011.
Allcargo Global Logistics , a leading multinational company providing integrated logistics solutions. The company is one of India's largest publicly listed logistics company, and is listed on the Bombay Stock Exchange and The National Stock Exchange of India (532749/ALLCARGO).
With a consolidated turnover of over Rs. 2300 crores, Allcargo Global Logistics Ltd, has demonstrated superior performance, significant growth prospects in the past years, thereby attracting quality investors like the Blackstone Group and New Vernon Capital, two of the world's leading private equity firms which acquired a 14.99% and 6.42% stake in Allcargo respectively.
This year's Union Budget has allocation for the sector -
Plan to create 150lac metric tons food storage capacity
Cold storage facilities to be enhanced; to give infra status to cold storage chains
Preparation of GST rollout in final stages; Goods and Services Tax Bill to be introduced in Parliament this year
