The Visakhapatnam Port Trust (VPT) has been awaiting approval from the Greater Visakhapatnam Municipal Corporation to rezone the land in the city for commercial development under the public private partnership model.
In order to form a national grid connecting all ports, the government has decided to form a committee that will assess the development potential of around 150 non-major ports in the country and will subsequently link them with major ports. This interlinking will aid India’s growth in terms of its export- import (EXIM) cargo.
India has taken over the operations of Chabahar Port in Iran. The heads of Indian, Iranian and Afghanistan delegation jointly inaugurated the office of the Indian SPV-India Ports Global Chabahar Free Zone; and physical take over of the terminal area, cargo handling equipment and office building was initiated.
The Centre's move to relax cabotage law may transform India's ports into a major transhipment hub. Recently, the shipping ministry issued a notification lifting restrictions on foreign registered vessels on transportation of containers between Indian ports.
A monopoly policy that restricts private port operators from bidding for second terminal at major ports administered by the Centre is likely to be terminated as it has come under the review of the Shipping Ministry.