Indian Major Ports See 4.45% Cargo Volume Growth
PORTS & SHIPPING

Indian Major Ports See 4.45% Cargo Volume Growth

Cargo volumes at major ports in India witnessed a notable growth of 4.45% during the fiscal year 2023-24, reaching a total of 819.227 million tonnes. This increase reflects the resilience and recovery of the maritime sector despite challenges posed by the global pandemic and economic uncertainties.

The growth in cargo handling at major ports underscores the importance of maritime infrastructure in facilitating trade and commerce in the country. The ports serve as crucial gateways for imports and exports, supporting various industries and contributing to the nation's economic growth.

Key factors contributing to the growth in cargo volumes include increased trade activity, improved port infrastructure, and strategic initiatives undertaken by port authorities to enhance efficiency and operational capabilities. Additionally, the government's focus on promoting coastal shipping and inland waterways has further bolstered the maritime sector's performance.

The positive momentum in cargo handling at major ports bodes well for India's maritime industry and its role in facilitating international trade and commerce. As the country aims to boost its exports and strengthen its position in the global market, continued investments in port infrastructure and logistics will be crucial to sustain and accelerate growth in the maritime sector.

The resilience demonstrated by major ports in India amidst challenging economic conditions underscores their importance as key drivers of the nation's trade and economic development. Moving forward, efforts to enhance port efficiency, streamline regulatory processes, and promote multimodal connectivity will be essential to capitalise on the growth opportunities offered by the maritime sector and drive India's economic transformation.

Cargo volumes at major ports in India witnessed a notable growth of 4.45% during the fiscal year 2023-24, reaching a total of 819.227 million tonnes. This increase reflects the resilience and recovery of the maritime sector despite challenges posed by the global pandemic and economic uncertainties. The growth in cargo handling at major ports underscores the importance of maritime infrastructure in facilitating trade and commerce in the country. The ports serve as crucial gateways for imports and exports, supporting various industries and contributing to the nation's economic growth. Key factors contributing to the growth in cargo volumes include increased trade activity, improved port infrastructure, and strategic initiatives undertaken by port authorities to enhance efficiency and operational capabilities. Additionally, the government's focus on promoting coastal shipping and inland waterways has further bolstered the maritime sector's performance. The positive momentum in cargo handling at major ports bodes well for India's maritime industry and its role in facilitating international trade and commerce. As the country aims to boost its exports and strengthen its position in the global market, continued investments in port infrastructure and logistics will be crucial to sustain and accelerate growth in the maritime sector. The resilience demonstrated by major ports in India amidst challenging economic conditions underscores their importance as key drivers of the nation's trade and economic development. Moving forward, efforts to enhance port efficiency, streamline regulatory processes, and promote multimodal connectivity will be essential to capitalise on the growth opportunities offered by the maritime sector and drive India's economic transformation.

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?