According to the Ministry of Shipping, around 95% of India's trading volume and 70% of the value is done through maritime transport. Therefore, the government has also introduced various fiscal and non-fiscal incentives for enterprises developing, maintaining, and operating ports, inland waterways, and shipbuilding in India.
India has 12 major, and 205 notified minor and intermediate ports. Under the National Perspective Plan for Sagarmala, six new mega ports will be developed in the country. Under Sagarmala Program, $123 bn would be invested across 415 projects.
The Indian ports and shipping industry plays a vital role in sustaining growth in the country's trade and commerce. India is the 16th largest maritime country in the world, with a coastline of about 7,517 km. The Indian government has also facilitated a 10-year tax holiday to enterprises developing, maintaining, and operating ports, inland waterways, and inland ports.
As of January 2021, 161 projects totaling $12 billion had been completed, with 178 projects totaling INR 1,96,578 crores still in the works.
100% FDI in Ports and Shipping is allowed under both government and automatic routes.
Cargo traffic at major ports (2018-19)
Cargo traffic growth
no. of vessels - coastal & overseas as on Apr 2020
Annual cargo traffic doubled to 1 billion tonnes per annum over the decade starting 2005
Seaborne trade in India has grown at twice the global growth rate of 3.3%
16th largest maritime country in the world
November 2019: JSW Infrastructure commissioned a new iron ore terminal at the Paradip port in Odisha with a capacity to handle up to 18 million tonnes of cargo per annum.
May 2019: Logistics service provider Schenker India, subsidiary of German DB Schenker is going to double its warehousing capacity from present 3.5 mn sq ft across 53 warehouses and deploy technical solutions for improving efficiency and enhance processing speed.
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