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Released October 25, 2023 | NEW DELHI
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Researched by Industrial Info Resources (Sugar Land, Texas)--With its vast coastline of 7,516 kilometers (4,670 miles), India's maritime sector is a leader in the global marine cargo handling market. As per a report by India Brand Equity Foundation (IBEF) (New Delhi, India), India's major ports handled 720.29 million metric tons of cargo traffic in fiscal year 2022 as compared to 671.82 million metric tons of cargo traffic in fiscal year 2021.
India's shipping industry is largely driven by the rise in India's economy that in turn has led to greater demand for cargo transportation. According to Invest India (New Delhi), 95% of India's trade by volume and 70% by value, depends on maritime transportation. The growth is further promoted by various government initiatives, such as the Sagar Mala Program, which was launched in 2017, and the Maritime India Vision 2030, launched in 2021, to develop India's diverse maritime sector.
The Maritime India Vision 2030 plan identifies more than 150 initiatives that cover all facets of the country's marine sector. The Sagar Mala program, on the other hand, focuses on the development of ports and growth of logistics intensive industries. The projects under this program cover port modernization, new port development, port-linked industrialization, port connectivity enhancement and coastal community development.
Industrial Info is tracking 702 projects, worth US$36.17 billion, in India's marine cargo-handling sector. Of the total investment, 44% is geared toward plant expansion projects and about 31% is aimed at grassroot projects. Key ports like Mundra, Nhava Sheva, and Chennai are being expanded and technologically upgraded. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a list of detailed project reports.
The Indian state of Gujarat leads the way with a massive investment of US$9.53 billion across 123 projects followed by Pondicherry with an investment of about US$5.25 billion. Other states with significant investments are Odisha and Tamil Nadu with an investment of US$4.56 billion and US$4.42 billion, respectively.
Adani Group (Ahmedabad, Gujarat) is one of the biggest spend drivers with an investment of US$13 billion. Other key players with significant investments are Deen Dayal Port Authority (US$4.67 billion), and Ministry of Ports Shipping and Waterways (MoPSW) (US$3.35 billion), and V.O Chidambaranar Port Trust (US$2.15 billion).
One of the largest projects is being undertaken by Karaikal Port Pvt Limited, which is planning to invest US$5 billion in a port container terminal berth addition as a part of expansion plan in Karaikal, Pondicherry. Subscribers can click here for the project report.
Kandla Port Trust (KPT) with Adani Ports and Special Economic Zone Limited is making an investment of US$4.13 billion aimed at capital and maintenance dredging in Kandla, Gujarat. Click here for the project report.
Adani Ports and Special Economic Zone Limited is investing US$720 million toward the third phase of development of the Mundra Port in Gujarat. Click here for the project report.
While most of the projects are in their initial stages, 24% of the total investment has progressed toward construction. Despite heavy investments, the marine cargo handling sector is not immune to challenges. Infrastructure and capacity constraints, skill development and manpower to meet industry demands, environmental and safety concerns are some of the obstacles that remain, but with consistent efforts and investments, the industry can overcome these hurdles.
Subscribers can click here for all project reports mentioned in this article and click here for the related project profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
India's shipping industry is largely driven by the rise in India's economy that in turn has led to greater demand for cargo transportation. According to Invest India (New Delhi), 95% of India's trade by volume and 70% by value, depends on maritime transportation. The growth is further promoted by various government initiatives, such as the Sagar Mala Program, which was launched in 2017, and the Maritime India Vision 2030, launched in 2021, to develop India's diverse maritime sector.
The Maritime India Vision 2030 plan identifies more than 150 initiatives that cover all facets of the country's marine sector. The Sagar Mala program, on the other hand, focuses on the development of ports and growth of logistics intensive industries. The projects under this program cover port modernization, new port development, port-linked industrialization, port connectivity enhancement and coastal community development.
Industrial Info is tracking 702 projects, worth US$36.17 billion, in India's marine cargo-handling sector. Of the total investment, 44% is geared toward plant expansion projects and about 31% is aimed at grassroot projects. Key ports like Mundra, Nhava Sheva, and Chennai are being expanded and technologically upgraded. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for a list of detailed project reports.
The Indian state of Gujarat leads the way with a massive investment of US$9.53 billion across 123 projects followed by Pondicherry with an investment of about US$5.25 billion. Other states with significant investments are Odisha and Tamil Nadu with an investment of US$4.56 billion and US$4.42 billion, respectively.
Adani Group (Ahmedabad, Gujarat) is one of the biggest spend drivers with an investment of US$13 billion. Other key players with significant investments are Deen Dayal Port Authority (US$4.67 billion), and Ministry of Ports Shipping and Waterways (MoPSW) (US$3.35 billion), and V.O Chidambaranar Port Trust (US$2.15 billion).
One of the largest projects is being undertaken by Karaikal Port Pvt Limited, which is planning to invest US$5 billion in a port container terminal berth addition as a part of expansion plan in Karaikal, Pondicherry. Subscribers can click here for the project report.
Kandla Port Trust (KPT) with Adani Ports and Special Economic Zone Limited is making an investment of US$4.13 billion aimed at capital and maintenance dredging in Kandla, Gujarat. Click here for the project report.
Adani Ports and Special Economic Zone Limited is investing US$720 million toward the third phase of development of the Mundra Port in Gujarat. Click here for the project report.
While most of the projects are in their initial stages, 24% of the total investment has progressed toward construction. Despite heavy investments, the marine cargo handling sector is not immune to challenges. Infrastructure and capacity constraints, skill development and manpower to meet industry demands, environmental and safety concerns are some of the obstacles that remain, but with consistent efforts and investments, the industry can overcome these hurdles.
Subscribers can click here for all project reports mentioned in this article and click here for the related project profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
