Port in India
The shipping port sector in India is a linchpin of economic growth, making it an integral part of the country’s future prospects. India has a coastline of over 7,516 kilometers, with 12 major ports and over 200 non-major ports. India’s major ports record highest ever cargo of 795 mt in FY23. JNPT also known as Nhava Sheva port in Mumbai is the busiest port in India, with a handling capacity of 5.5 million TEUs (twenty-foot equivalent units) per year. As part of the Sagarmala initiative, the Indian government has identified 415 projects for port modernization, connectivity improvement, and port-led industrialization involving overall investment of ₹8.35 lakh crore (approximately US$ 123 billion). According to the World Bank’s “Logistics Performance Index” recent report, India ranked 38th out of 139 countries in terms of logistics performance 2023. These statistics highlight the growing importance of the shipping port business in India, and the various initiatives being undertaken to further its development. However, with a vast coastline, there is still significant potential for growth and improvement in this sector.