5 Months agoThe Indian maritime industry is an integral part of the country’s trade and commerce, supporting 90% of India’s trade by volume.
Ports & Shipping Sector The Indian maritime industry is an integral part of the country’s trade and commerce. It supports 90% of India’s trade by volume. India’s has a coastline of 7,517 kms with potentially navigable waterways of 14,500 kms. 12 major and 200 non- major ports are dotted along the coast.
Over the last two years, a host of policy and regulatory reforms by the Government has resulted in capacity building and service delivery improvement.
Growth trends during 2014-16:
- An additional capacity of 94 million tonnes has been added to Major Ports in FY 2015- 16, which has been the highest ever capacity addition.
- The cargo handled by major ports went up by 6.27% in FY 2016-17 (Apr-Oct) to 370.04 million tonnes (MT) compared to 348.21 MT during the same period previous year.
- The turn-around time in ports has been reduced by 5.33% and the preberthing detention has decreased by 13.4%.
- 56 New Projects worth INR 25000 crores have been awarded during the last two years, which will create an additional port capacity of 317 million tonnes per annum.