Mumbai, Jan 22 (IANS) Union Minister Sarbananda Sonowal on Wednesday said that India is expanding its port capacity more than six-fold to reach 10,000 million tonnes per annum by 2047, marking the country's largest-ever maritime infrastructure drive as it positions itself as a global shipping hub.

Speaking at the FICCI Maritime Conference and Expo in Mumbai on Wednesday, Sonowal revealed that major ports are already handling 820 MMT of cargo annually, representing a 47 per cent increase since 2014, while overall port capacity has doubled to 1,630 MMT during the same period.

"India's maritime sector has become a cornerstone of the country's economic resurgence,” he said.

The expansion programme includes the development of two strategic mega-ports - the Vadhavan Port in Maharashtra, set to become India's largest container facility, and the International Container Transshipment Port at Galathea Bay in Great Nicobar, aimed at capturing transhipment trade along key global routes.

“These achievements epitomise our vision of Ports for Prosperity, where infrastructure serves as a springboard for economic growth and job creation,” said the Union Minister.

The maritime modernisation drive has already yielded significant efficiency gains.

Container dwell time has been reduced to three days, while vessel turnaround time has improved to 0.9 days, surpassing several advanced economies. Nine Indian ports now feature in the World Bank's Container Port Performance Index 2023, with Visakhapatnam ranking among the top 20 globally.

Meanwhile, T K Ramachandran, Secretary of the Ministry of Ports, Shipping & Waterways, noted India's maritime sector is targeting $1 trillion in investments by 2047, with immediate plans for green hydrogen production hubs at major ports.

The Secretary revealed that several companies have already leased 4,000 acres for green hydrogen facilities at the ports of Kandla, Tuticorin, and Paradip, with production expected to commence within a year.

“Half a dozen companies have come forward to invest in these places,” Ramachandran said and added: “We expect about Rs 5 lakh crore in investments by 2030.”

In addition, Ramachandran alluded to the Hong Kong Convention on ship recycling, which takes effect in June, highlighting that the government expects Indian shipyards to benefit from it.

Most recycling yards in Alang already comply with the convention's standards, positioning India to capture a larger share of the global ship recycling market, he noted.

Courtesy Media Group: IANS

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