In FY23, major ports in India handled 783.50 million tonnes of cargo traffic. In FY22, major ports in India handled 720.29 million tonnes of cargo traffic from 671.82 million tonnes of cargo handled during April-March 2020-21, implying a CAGR of 2.89% in FY16-22. From April-January 2024, all key ports in India handled 677.22 million tonnes (MT) of cargo traffic. India’s key ports had a capacity of 1,617 million tonnes per annum (MTPA) in FY23. From April-October 2022, all key ports in India handled 446.01 million tonnes (MT) of cargo traffic from 406.73 million tonnes cargo traffic handled during April-October, 2021-22. In FY22, all key ports in India handled 720.29 million tonnes (MT) of cargo traffic. India's merchandise exports in FY23 were at US$ 451 billion from US$ 417 billion in the previous year.
Non-major ports accounted for 45% of the total cargo traffic at Indian ports in FY23, due to a significant shift of traffic from the major ports to the non-major ports.
The Government of India has allowed Foreign Direct Investment (FDI) of up to 100% under the automatic route for projects related to the construction and maintenance of ports and harbours. The cumulative FDI equity inflow in the Port industry is US$ 1.637 billion during the period April 2000 to December 2023. A 10-year tax holiday is extended to enterprises engaged in the business of developing, maintaining, and operating ports, inland waterways, and inland ports. The Government has also initiated the National Maritime Development Programme (NMDP), an initiative to develop the maritime sector with a planned outlay of US$ 11.8 billion. In Union Budget 2023-24, the total allocation for the Ministry of Shipping was US$ 1,813.16 million (Rs. 2,218.74 crore). In the interim budget 2024-2025, Rs. 700 core (US$ 84.42 million) has been allocated for the Sagarmala programme.
There are 46 Public Private Partnership (PPP) projects at an estimated value of US$ 4.49 billion at major ports.
From April-March 2024, all key ports in India handled 819.227 million tonnes (MT) of cargo traffic.
In Union Budget 2024-25, the total allocation for the Ministry of Shipping was US$ 281.23 million (Rs. 2,345.45 crore).
On February 2023, sanctioned projects under PPP include upgrading JNPA Hospital to a 100-bed multi-specialty hospital (US$6.8 million), developing Berth No.13 at Deendayal Port for handling clean cargo (US$23.8 million), and mechanizing NCB-III at V.O. Chidambarnar Port for dry bulk cargo (US$37.8 million).
Additionally, operations and maintenance of Berth Nos. 10 & 11 at Mormugao Port, Goa (US$19.9 million), and the development of Mumbai Marina at Prince's Dock of Mumbai Port Authority (US$82.2 million) were approved under PPP arrangements in February 2023.
Minister for Finance, and Corporate Affairs Ms. Nirmala Sitaraman, proposed to double the ship recycling capacity of ~4.5 million light displacement tonnes (LDT) by 2024; this is expected to generate an additional ~1.5 lakh employment opportunities in India.
Adani Group plans US$ 3 billion investment over 3-5 years to expand global ports capacity, targeting strategic acquisitions in Europe, Africa, and Southeast Asia to increase revenue from overseas ports to 20-25% and support the India-Middle East-Europe Economic Corridor.
India plans to establish a new shipping company to expand its fleet by at least 1,000 ships in the next decade, aiming to reduce freight costs and capture more revenue from increasing trade, with joint ownership by state-run oil, gas, and fertilizer companies, along with the state-run Shipping Corporation of India and foreign companies, targeting a reduction of at least one-third in foreign freight outgoings by 2047.
As per studies conducted under the Sagarmala Programme, cargo traffic at ports is expected to be ~2,500 MMTPA by 2025, while the current cargo handling capacity of ports is only 2,406 MMTPA. A roadmap has been prepared for increasing the Indian port capacity to 3,300+ MMTPA by 2025 to cater to the growing traffic. This includes port operational efficiency improvement, capacity expansion of existing ports and new port development. There are 206 port modernization projects worth US$ 10.71 billion (Rs. 78,611 crore). Of which, 81 projects worth US$ 3.29 billion (Rs. 24,113 crore) have been completed and 59 projects worth US$ 3.31 billion (Rs. 24,288 crore) are being implemented.
Under the Sagarmala Programme, 45 projects totaling Rs. 47,166 Cr. (US$ 5.69 billion) have been earmarked for execution at Non-Major Ports. Of these, 4 projects worth Rs. 5,419 Cr. (US$ 0.65 billion) have been finalized, while 17 projects valued at Rs. 27,673 Cr. (US$ 3.34 billion) are presently underway. Thirty-one out of the 45 projects are being carried out through Public-Private Partnership (PPP) mode, with a collective investment of Rs. 45,973 Cr. (US$ 5.54 billion)
India’s 12 major ports handled 819.227 million tonnes of cargo in FY24, a 4.45% increase from 784.305 million tonnes in FY23, driven by strong growth in iron ore, raw fertilizer, coking coal, and container shipments, with Jawaharlal Nehru Port Authority handling over half of the total container volumes.
During the fiscal year April 2023 to March 2024, cargo throughput at Non-Major Ports registered a notable increase of 11.18% compared to the same period in the previous fiscal year, reaching a total of 721.05 million tonnes (MMT) from 648.54 MMT handled during April 2022 to March 2023.
The Indian government announced that seven major ports worth US$ 274 million will commence operations under the public-private partnership model in 2021-22. Private sector investments in ports have steadily increased over the last five years, touching an all-time high of US$ 2.35 billion by 2020.
Cargo handled at Non-Major Ports during March 2023 is 60.74 million tonnes.
The overseas cargo handled at Non-Major Ports during March 2023 decreased by 1.6% to 48.59 million tonnes from 49.37 million tonnes during March 2022.
Between April-August 2021, cargo handled at India's 12 state-owned major ports recorded an increase of 19.54% from 245.289 mt the previous year to 293.226 million tonnes (mt).
APSEZ (Adani Ports and Special Economic Zone) plans to become the world's largest private port company by 2030 and carbon neutral by 2025.
On March 15, 2024, The Ministry of Ports, Shipping and Waterways approved Rs 645 crore (US$ 77.79 million) for 10 new waterways projects on the Brahmaputra in Assam, enhancing connectivity, boosting river tourism, and facilitating public commute, all under the Sagarmala programme.
On March 09, 2024, India's trade in container shipments experienced notable growth, totaling nearly 1.9 million TEUs, marking a 5% increase from January. Mundra Port managed 635,000 TEUs, Nhava Sheva Port handled 565,000 TEUs, and PSA Mumbai processed 158,000 TEUs.
On March 07, 2024, the Union Minister for Ports, Shipping, and Waterways, Mr. Sarbananda Sonowal approved a project exceeding Rs. 800 crore (US$ 96.48 million) to revamp Syama Prasad Mookerjee Port, Kolkata, encompassing berth reconstruction and mechanization to enhance operational efficiency and global competitiveness.
On February 20, 2024, The Union Minister of Ports, Shipping & Waterways and Ayush, Mr. Sarbananda Sonowal initiated major waterways projects in Northeast India, including inaugurating terminals at Bogibeel and Sonamura, unveiling projects worth ₹308 crore (US$ 37.14 million), and announcing initiatives for improved connectivity and economic growth.
On October 17, 2023, the Global Maritime India Summit (GMIS) achieved ₹10 lakh crores (US$ 120.60 billion) of investment within three days of its unveiling, with 360 MoUs valued at ₹8.35 lakh crores (US$100.7 billion) and additional investible projects worth ₹1.68 lakh crores (US$ 20.26 billion) announced.
On September 19, 2023, the Ministry of Ports, Shipping, and Waterways proposed the Indian Ports Bill with the aim of enhancing transparency in port tariffs and updating penalties. The bill empowers the Maritime States Development Council (MSDC) for integrated planning and introduces a three-tier dispute resolution mechanism for conflicts between state maritime boards.
Paradip Port in Odisha emerged as India's largest major port in terms of cargo volumes, handling 145.38 million tonnes in FY24, surpassing Deendayal Port Authority in Gujarat for the first time in its 56-year history, driven by improved operational efficiency, record coastal shipping traffic, and increased thermal coal shipping.
On August 24, 2023, the Ministry of Ports, Shipping and Waterways initiated the development of a Next-Gen Container Terminal at Tuna Tekra, Gujarat, through a Rs. 4,243.64 crore (US$ 511.7 million) PPP agreement with DP World, enhancing port infrastructure and trade connectivity.
On January 27, 2023, the Honorable Minister for Ports, Shipping, and Waterways inaugurated the National Logistics Portal (Marine). This platform connects logistics stakeholders, enhancing efficiency, transparency, and reducing costs and time delays through IT integration. Covering all transport modes, it offers seamless end-to-end logistics service coverage.
In April 2023, Adani Ports and Special Economic Zone Ltd (APSEZ), the largest transport utility in India, completed the acquisition of Karaikal Port Private Limited (KPPL) pursuant to NCLT approval. Earlier, APSEZ was declared as the successful resolution applicant under the Corporate Insolvency Resolution Process (CIRP) of KPPL.
In October 2022, Cabinet Committee on Economic Affairs approved the development of a container terminal at Tuna-Tekra, Deendayal Port, the terminal will be built on a Build, Operate & Transfer (BOT) basis under Public-Private-Partnership (PPP) mode.
In November 2021, the Union Minister for Ports, Shipping and Waterways & Ayush, Mr. Sarbananda Sonowal, inaugurated the new Radars and Vessel Traffic Management System of Cochin Port Trust. The VTMS (Vessel Traffic Management System) commissioned in Cochin Port in 2009 has been upgraded with a state-of-the-art system consisting of two new radars, one AIS Base station, three VHF Radios and associated software & hardware installed at a cost of Rs. 5.8 crore (US$ 772,161.66).
In June 2021, the Ministry of Ports, Shipping and Waterways and Ministry of Civil Aviation signed a memorandum of understanding (MoU) to develop sea plane services in India.
In July 2021, the Marine Aids to Navigation Bill 2021 was passed by the Parliament, incorporating global best practices, technological developments, and India's international obligations in this field.
In July 2021, the Gujarat government provided an approval to build a new jetty worth ~Rs. 192 crore (US$ 25.77 million) at Navlakhi Port, which has been operating since 1939.
In November 2020, the Prime Minister, Mr. Narendra Modi renamed the Ministry of Shipping as the Ministry of Ports, Shipping and Waterways.
In October 2020, the Ministry of Shipping announced plans to develop a National Logistics Portal (Marine) with end-to-end logistics solutions to help exporters, importers, and service providers.
In August 2020, the government announced its plan to invest Rs. 10,000 crore (US$ 1.4 billion) to build transhipment port at the Great Nicobar Island in the Bay of Bengal to provide shippers an alternative port in the region. The transhipment port will enable big ships to anchor and raise India's share in maritime trade due to its proximity to the East-West international shipping route.
