Advantage India
Robust
Demand
* Ports sector in India is being driven by high growth in external trade.
* In FY22, all key ports in India handled 650.52 million tonnes (MT) of cargo traffic.
Attractive
Opportunities
* The key ports are expected to deliver seven projects worth more than Rs. 2,000 crore (US$ 274.31 million) on a public-private partnership basis in FY22.
* The Finance Minister 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.
Policy
Support
* In Union Budget 2022-23, the total allocation for the Ministry of Shipping was Rs. 1,709.50 crore (US$ 223.31 million).
* 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.
Competitive
Advantage
* India has a coastline which is more than 7,517 kms long, interspersed with more than 200 ports.
* Most cargo ships that sail between East Asia and America, Europe and Africa pass through Indian territorial waters.
Related News
MOREMajor Ports in India
- Kolkata
- Paradip
- Visakhapatnam
- Kamarajar (Ennore)
- Chennai
- V.O Chidambaranar
- Cochin
- New Mangalore
- Mormugao
- Deendayal
- Mumbai
- J.N.P.T
IBEF Campaigns
MORE
India Organic Biofach 2022
Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nurember...
Case Studies
MOREGrowth and Expansion of India’s Edtech Industry
Education has always been a prominent sector in the development and growth of India, and the government has always been focused on implementing polici...
Rise of the Indian Aviation Market
India has become the third-largest domestic aviation market in the world and is expected to overtake the UK to become the third-largest air passenger ...
India's Agritech Ecosystem
Agriculture plays a crucial role in developing India's economy. According to Census 2011, almost 54.6% of the country's workforce is engaged i...
IBEF BLOG
MORE
Asset Monetisation: Unlocking Capital for Infrastructure Development
Introduction The Government of India's objective of making India a US$...
Agriculture 4.0: Future of Indian Agriculture
Overview of Agriculture in India Agriculture plays a significant role in I...
ONDC to present opportunities to India’s local retailers
Introduction India is the world's second-largest digital economy in te...
Partners
