Developing countries contribute increasingly larger shares and growth to the world GDP and merchandise trade. The contribution of various regions to world seaborne trade volume underscores the dominance of developing countries both as exporters and importers, a shift from earlier patterns when they served mainly as loading areas of high volume goods.
With 13 major ports and around 200 minor & intermediate ports, India’s 7, 517 km long coastline plays a vital role in maritime transport along with offering huge international trade capabilities.
The sector is on a high-priority list for the Government as it is one of the components of national infrastructure. Being a focus area for development and refurbishment, Indian ports are increasingly becoming an attractive investment option for investors scouting for opportunities in Indian market.
Indian Port Bill 2021: A step towards accelerating India’s Port Development
As per the PIB report, in FY 2020, the traffic handled at Indian ports is about 1.2 billion MT, which is expected to increase to 2.5 billion MT by 2030. On the other hand, only a few ports in India are having deeper draft which can handle capsize vessels. In addition, there are around 100 non-functional ports distributed across the coast of India. The ever-increasing size of ships mandates to have deeper draft ports and indeed mega ports need to be developed. Similarly, the non-functional ports also need to be prioritized and developed.
A national-level integrated approach is required to augment the existing ports or to develop new ports in an efficient and sustainable manner which in turn will reduce the freight costs to a greater extent and improve the trade growth.
GUJARAT – India’s Maritime Crown Jewel
Gujarat is a pioneering, futuristic and entrepreneurial state of the country. Gujarat's maritime sector is considered to be the most proactive and well developed sectors of India.
The milestone achieved by the State of Gujarat in the port sector is by a virtue of its 1600 kms long coastline, its innovative strategic initiatives, proactive measures by the Government and above all a competent and channelized guidance provided by Gujarat Maritime Board.
With the dynamic vision and investor friendly policies, Gujarat has been successfully encouraging private investment in non-major ports and modernization of the existing port. This has resulting into Gujarat handles now 40% of the country’s cargo amounting to over 514 million metric tons. The port led development has transformed areas such as Kutch and South Gujarat into industrial hubs and has provided employment to many. Gujarat also has a wide network of roads which provides connectivity till the last mile.
