The government of India has identified seven projects for increasing capacity by 67 million tonnes (MT) of cargo at five major ports under the public-private-partnership (PPP) model during the current fiscal year finishing in March 2015.
Driven by new manufacturing, power projects and higher cargo traffic at ports, the sector is poised for significant development. During 2013-14, India's major ports handled 555.50 million tonnes (MT) of cargo as compared to 545.83 MT handled in 2012-13, registering a growth of 1.8 %.
According to local sources, a Shipping Ministry official said last week:
"Seven projects entailing an investment of 45,750 million rupees (approximately $761 million) have been identified for award under the public-private-partnership (PPP) mode at five major ports in the country during the current fiscal."
The seven projects include:
Last month, Minister of State for Shipping Krishanpal Gurjar had said the government had taken a total of 72 projects for the sector under PPP mode and of these 28 projects have completed.
The Indian ports and shipping industry plays a crucial role in sustaining growth in the country's trade and commerce. India currently ranks 16th among the maritime countries, witha long coastline of about 7,517 kilometres (km) with 13 major ports (12 government and one corporate) and about 200 non-major ports currently operating on the western and eastern coasts of the country. According to the Ministry of Shipping, around 95 per cent of India's trade by volume and 70 per cent by value happens through maritime transport.