- India's major ports handled a record 795 million metric tonnes of cargo in FY22-23, a 10% increase from the previous year.
- Major ports recorded higher annual growth rates than non-major ports for the first time in years, indicating their commitment to growth and development.
- The government's efforts to promote sustainable practices, clamp down on fraudulent schemes, and increase efficiency have contributed to the growth of India's port and shipping sector.
India's major ports have achieved a significant milestone by handling the highest ever cargo in the history of the ports. The Ministry of Ports, Shipping and Waterways Secretary Sudhansh Pant announced that the major ports handled 795 million metric tonnes of cargo in the fiscal year 2022-23. This is an impressive 10% increase over the previous year.
Pant also shared that the shipping ministry surpassed its asset monetisation target of about Rs 3,700 crore by generating transactions worth around Rs 5,000 crore. The government's efforts to clamp down on dubious Ponzi schemes and promote sustainable practices have contributed to the growth of the sector.
In addition, the Ports, Shipping and Waterways Minister Sarbananda Sonowal will launch ‘Green Port' guidelines next week to promote environmentally friendly practices in the ports. This initiative will further boost India's reputation as a responsible and sustainable nation.
India has 12 major ports, including Deendayal (Kandla), Mumbai, Chennai, and Kolkata, among others. The major ports, including Syama Prasad Mookerjee Port (Kolkata), Deendayal (Kandla), Jawaharlal Nehru Port, and Paradip, recorded the highest ever cargo this year.
Furthermore, for the first time in many years, major ports recorded a higher annual growth rate than non-major ports. Non-major ports are administered by state governments and are often leased to private partners. Despite challenges, the major ports achieved an overall growth rate of 10.4%, while non-major ports grew 1.5 to 2% less than this.
In terms of cargo share, major ports held 54% of the total cargo in FY22, while non-major ports held 46%. In FY23, the share of major ports increased to 55%, and non-major ports fell to 45%. Even a 1% shift is considered a significant achievement for major ports, and it highlights their commitment to growth and development.
The inland waterways sector also witnessed an increase in cargo handling by 16%, handling 126 million metric tonnes of cargo in 2022-23, up from 109 million metric tonnes in the previous year. The government's focus on promoting inland waterways and encouraging sustainable practices has contributed to this growth.
Overall, India's port and shipping sector is on a growth trajectory, and the government's efforts to promote sustainable practices, clamp down on fraudulent schemes, and increase efficiency have all contributed to this success. The launch of the Green Port guidelines will further enhance the sector's growth while promoting sustainability.