Indian Ports Experience Record Growth in Cargo Volumes

Indian ports have witnessed significant growth in cargo volumes, achieving a compound annual growth rate of 3.5% from 2014-15 to 2023-24. The increase aligns with the nation's economic expansion and export boom. Infrastructure enhancements and improved connectivity play a key role in supporting this growth.

Indian ports have been observing a substantial rise in cargo volumes year-over-year, driven by a burgeoning economy and escalating exports. According to Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, cargo throughput at major ports surged from 581.34 million tonnes in 2014-15 to an impressive 819.23 million tonnes in the financial year 2023-24, marking a compound annual growth rate of 3.5 percent. This growth rate is comparable to global standards, as stated in a written reply to the Rajya Sabha during the Budget session.

In 2023-24, the composition of cargo handled included 33.8 percent liquid bulk, 44.04 percent dry bulk, and 22.16 percent container cargo. Minister Sonowal noted that infrastructure development and capacity expansion at major ports is an ongoing commitment. The initiatives encompass the construction of new berths and terminals, mechanization of existing facilities, capital dredging to deepen drafts for accommodating larger vessels, and enhancing road and rail connectivity.

Furthermore, plans are underway for Vadhavan Port in Maharashtra to emerge as a mega container port to meet the demands of next-generation mega-size container vessels, as referenced in parliamentary discussions. The government, in collaboration with major ports, state maritime boards, and relevant ministries, has identified 107 road and rail connectivity infrastructure gaps. These are incorporated in the Comprehensive Port Connectivity Plan (CPCP) crafted by the Department for Promotion of Industry and Internal Trade in September 2022, aimed at improving connections between ports and major production or consumption hubs. Efforts to simplify logistics for export-oriented sectors include building new infrastructure, optimizing existing facilities, and advancing digital processes.