Market Report
Report Summary Improving Current Port Infrastructure, Building New Ports, Off Shore Energy, Sustainable Coastal Development and Connectivity – Outlook Till 2030
Blue Economy Market Opportunities for Private Players in India
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The government of India is targeting to develop 25 new ports worth INR 7.7 Billion by 2025 under National Infrastructure Pipeline (NIP). Additionally, 58 projects involving a cost USD 6.6 Billion have been identified as part of the NIP for infrastructure augmentation and development at major ports up to 2025
Maritime India Vision, envisions an overall investment of INR 3 - 3.5 Lacs Crores across ports, shipping and inland waterways categories by 2030.
India’s growing infrastructure need has made it quintessential to develop the transport system to full capacity. Logistics infrastructure covering the road, rail, waterways & air network of a country is the backbone on which the nation marches northbound. Although, the urgency to develop India’s logistics infrastructure has been realized well by the Indian government, as many development targets have been rolled out over the past decade. But the task at hand is daunting and needs participation from the deep-pocketed players to lift the plans to reality. Since a large part of India’s future logistics network capacity is still to be built, the country has great potential to build infrastructure optimally to meet the growing demand. Doing so requires an integrated and coordinated approach in which the development of each mode – railways, waterways and roads is matched to the needs and existing assets are better utilised.
The maritime sector plays a vital role in strengthening logistics infra and to shape the maritime prowess, varied initiatives have been taken by the Indian government to encourage port-led development. Sagarmala, Bharatmala, National Infrastructure Pipeline, developing coastal economic zones (CEZ), coastal economic units (CEUs) and many more likewise are some of the major steps taken by the government in this regards. It is significant to note that as a part of the Sagarmala Programme, more than 500 projects at an estimated cost of around INR 3.59 Lakh crore have been identified for implementation till 2035. Sagarmala projects include projects from various categories such as modernisation of existing ports and terminals, new ports, terminals’ Ro-Ro & tourism jetties, enhancement of port connectivity, inland waterways, lighthouse tourism, industrialization around the port, skill development, technology centres, etc. These projects are broadly classified into four pillars of Sagarmala. Implementation of the projects under Sagarmala is to be done by the central line ministries, state maritime Boards, Major Ports and SPV preferably through the private sector and through public private Partnership (PPP) wherever feasible.
The Government of India has also taken concerted efforts in the direction of expansion and modernization of major ports of the country. India anticipates a growth of over 3 to 3.5-fold in the port freight traffic by 2030 which indicates a plethora of opportunities for value chain across port modernization/mechanization, capacity expansion, new ports, warehousing, logistics & industrial development. Infrastructure development and capacity augmentation of major ports is an ongoing process. It involves the construction of new berths and terminals, mechanization of existing berths and terminals, capital dredging for deepening of drafts for attracting large vessels in port channels, development of road and rail connectivity etc. As a result, the cargo handling capacity of the major ports has gone up to 1534.91 Million Tonnes Per Annum(MTPA) as on 31st March 2020.
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