Last Updated: May, 2019
India has 12 major ports and about 200 non-major ports. Under the
National Perspective Plan for Sagarmala, six new mega ports will be
developed in the country. In FY19 traffic has increased 2.90 per cent
year-on-year to 699.05 million tonnes. Cargo traffic at non-major ports
was estimated at 281.0 million tonnes FY19P*.
Since ports handle almost 95 per cent of trade volumes in India, the rising trade has contributed significantly to the country’s cargo traffic. Capacity at major Indian ports reached 1,477 million tonnes by FY19P. Capacity at non-major ports is expected to reach 968 MMT in 2019 from 750 MMT in 2016. Given the positive outlook, proposed investments in major ports are expected to total US$ 18.6 billion by 2020, while those in non-major ports would be US$ 28.5 billion.
India’s total external trade1 grew to US$ 838.46 billion in FY19, implying a CAGR of 5.53 per cent since FY09. Merchandise exports during the year were US$ 331.02 billion while imports reached US$ 507.44 billion.
In November 2016, Ministry of Shipping has sanctioned sum of US$ 1.49 million to Gujarat Maritime Board for capacity building and safety training of workers involved in ship recycling activities under Sagarmala. The Government of India has finalised master plans for 142 capacity expansion projects worth Rs 91,434 crore (US$ 14.19 billion) under the Sagarmala programme. As of March 2018, projects worth Rs 1.85 lakh crore (US$ 28.70 billion) had been awarded under Sagarmala programme.
The Government of India has allowed foreign direct investment (FDI) of up to 100 per cent under the automatic route for projects related to the construction and maintenance of ports and harbours. Ports sector in India has received a cumulative FDI of US$ 1.64 billion between April 2000 and December 2018. A 10-year tax holiday is extended to enterprises engaged in the business of developing, maintaining, and operating ports, inland waterways, and inland ports. The government has also initiated National Maritime Development Programme (NMDP), an initiative to develop the maritime sector with a planned outlay of US$ 11.8 billion.
Note 1 - Merchandise trade
Since ports handle almost 95 per cent of trade volumes in India, the rising trade has contributed significantly to the country’s cargo traffic. Capacity at major Indian ports reached 1,477 million tonnes by FY19P. Capacity at non-major ports is expected to reach 968 MMT in 2019 from 750 MMT in 2016. Given the positive outlook, proposed investments in major ports are expected to total US$ 18.6 billion by 2020, while those in non-major ports would be US$ 28.5 billion.
India’s total external trade1 grew to US$ 838.46 billion in FY19, implying a CAGR of 5.53 per cent since FY09. Merchandise exports during the year were US$ 331.02 billion while imports reached US$ 507.44 billion.
In November 2016, Ministry of Shipping has sanctioned sum of US$ 1.49 million to Gujarat Maritime Board for capacity building and safety training of workers involved in ship recycling activities under Sagarmala. The Government of India has finalised master plans for 142 capacity expansion projects worth Rs 91,434 crore (US$ 14.19 billion) under the Sagarmala programme. As of March 2018, projects worth Rs 1.85 lakh crore (US$ 28.70 billion) had been awarded under Sagarmala programme.
The Government of India has allowed foreign direct investment (FDI) of up to 100 per cent under the automatic route for projects related to the construction and maintenance of ports and harbours. Ports sector in India has received a cumulative FDI of US$ 1.64 billion between April 2000 and December 2018. A 10-year tax holiday is extended to enterprises engaged in the business of developing, maintaining, and operating ports, inland waterways, and inland ports. The government has also initiated National Maritime Development Programme (NMDP), an initiative to develop the maritime sector with a planned outlay of US$ 11.8 billion.
Note 1 - Merchandise trade
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