Gujarat based manufacturing company Ice Make Refrigeration Limited believes the steps taken by finance minister Nirmala Sitharaman in budget 2020 to revive economic growth, would increase demand for cold storage infra and warehousing in the country.
Mr Chandrakant Patel, CMD, Ice Make Refrigeration Limited said “We believe budget 2020 is well balanced. The new and increased budget plan outlays will boost the growth prospects of cold storage infra and logistics sector. Steps like “Kisan Rail” that will provide refrigerated coaches in trains (thereby helping farmers access faraway markets quickly, cheaply and efficiently), expansion of NABARD refinance scheme which will map and geo-tab 162 mn tonne capacity agri warehouses across country, setting up of village agri storage facilities by self help groups, allocation of Rs 2.83 lakh crore for agri and allied activities , Rs 1.7 lakh cr for transport infrastructure, development of 100 more airports, Delhi-Mumbai Expressway, doubling of milk processing capacity, promotion of one horticulture crop in each district on cluster basis, introduction of simplified return for GST from April 2020, are some of the major steps that can certainly boost the demand for refrigeration, cold storage and logistics infrastructure across the country and also improve the overall fundamentals of the economy”
“Though the FM has not made any major fiscal stimulus and big plan outlays this time, however, the budget 2020 looks quite balanced with the limited resources the government has in hand currently. We believe under the circumstances, they are able to maintain fiscal responsibility, is the biggest positive and the nominal GDP growth at 10% as a benchmark is quite sensible. Increased fund allocations in various plan outlays indicate government has serious intentions to revive the private investment cycle, and to increase the agricultural income. The 16-point action plan proposal to boost agriculture and farmers welfare is a certainly a good step. However, more reforms are needed to tackle the pain points of the economy.” Mr Patel added
About Ice Make Refrigeration Ltd
Ice Make has been successfully satisfying the needs of its customers, from production to after-sales service, since 1993. The Company is engaged in the business of providing customized cooling solutions to diverse set of clients across wide range of industries by manufacturing and supply of 50 plus high quality refrigeration products & equipment’s.
The Company over the years have received several awards and accolades including Indian Leadership Award for Industrial Development in 2011, Best Medium Enterprise (Manufacturing) by Canara Bank &Skoch Award in 2014, India SME 100Award in 2017 and Gold Award for excellence within its core industry category &2017-18 Vision Award for Annual Report Competition” hosted by the League of American Communications Professionals LLC (LACP) where ICE Make was ranked 27th among the top 100 annual reports globally.