India's Cargo Traffic on the path of 'Major Rise'
With 12 major Sea Ports and 200+ non- major Sea ports and Intermediate Ports, India as Peninsula “Country” the World would want to be associated with while forming various close business relationships.
India’s vibrant growing economy is taking India towards making it one of the safest investment hubs, as recently IMF has projected India’s robust growth of 8.2% for the year 2022, making India the largest growing economy in the region, almost twofold faster than neighboring country China’s projected growth rate of 4.4%.
India’s Shipping Industry is vital for the development and the growth of the country’s trade and commerce policies, as over 90% of the trade by volume and 70% by value is done through using maritime transports. The Jawaharlal Nehru Port Authority is the largest Government Major Sea Port, while Mudra is the largest Private Sea Port in India.
By Financial the Year 2018-19, 34 Public-Private Partnership Maritime Projects with an investment of US$ 3.05 Billion involving capacity addition of 300 MTPA is under operation. Another, 13 Public-Private Partnership Maritime Projects with an investment of US$ 978.3 Million involving capacity addition of 140 MTPA is under implementation.
Further, there are 20 captive projects with an investment of US$ 713.8 Million involving capacity addition of 142.45 MTPA under operation and 7 captive projects with an investment of US$ 930.5 Million involving capacity addition of 55 MTPA is under implementation.
The overall installed capacity of the major ports in India has increased over 76% to reach 1,534.91 MTPA in Mar 2020, vis-a-vis 871.52 MTPA in March 2014. Moreover, the total traffic handled by these major ports has reached to 704.92 MT during 2019-20.
The Cargo Traffic in the country is expected to rise to 2,500 MT by 2024-25 from 1,072.23 MT in 2015-16. The major ports in India collectively handled 679.4 MT of cargo during 2017-18 compared to 648.4 MT a year ago; thereby registering a growth of 4.8%. During 2018-19, major and non-major ports in India handled a total cargo throughput of around 1,282 MT.
The Cargo Traffic grew by 6.13% in the Port industry of India over the corresponding period of the previous year.
- 118 Maritime Projects requiring US$7.7 Billion investment have been approved in the last 4 years.
- India has plans to invest US$ 82 billion in port projects by 2035.
- Indian ports received cumulative FDI inflow worth US$ 1.63 billion between April 2000 and June 2021.
- The cargo handling capacity of major ports reached 1534.91 MPTA in 2019-20
Share in traffic for major commodities (2019)
- POL: 37.5%
- Container: 20.8%
- Thermal coal: 23.1%
- Iron ore: 5.8%
(Trade information and figures source collected from various sources such as Invest India, IBEF and secondary research resouces )