The Indian Port sector is witnessing deceleration in cargo decline in Q2 FY2021, with cargo at Indian ports witnessing Y-o-Y decline of ~9% each in July and August, after severe contraction of ~22% in Q1 FY2021 due to the impact of Covid-19 pandemic. The recovery has been relatively better at non major ports. The recovery trend is driven by easing of containment measures and uptick in economic activity. The major cargo segments impacted are POL, coal and containers; while fertilisers and iron ore have bucked the trend and grown during 5m FY2021.
The Chennai-Kanyakumari Industrial Corridor worth Rs 64.48 billion is expected to become a reality as the Tamil Nadu Government has passed a bill to amend the Tamil Nadu Industrial Township Area Development Authority Act, 1997 (TNITADA).