ICRA: Capital support, finalisation of pending bills needed in port sector
AVIATION & AIRPORTS

ICRA: Capital support, finalisation of pending bills needed in port sector

The BJP-led NDA government has won a landslide victory in the Lok Sabha elections 2019. The government is expected to step up its game and aggressively pursue various infrastructure projects in roads, power, airports, ports and railways sector, which can jump-start the slowing domestic economy. 

The turnaround time at ports has been reportedly reduced from 94 hours in FY14 to 64 hours in FY18 due to easing of norms, etc. Further, the dedicated freight corridor, likely to be operational within the next few years, is expected to improve railways logistics.

During the the government’s last tenure major policy initiatives were rolled out such as Sagar Mala, reforms on the tariff side for major ports, new model concession agreement (MCA) and several trade facilitation measures such as Direct Port Delivery model and simplification of customs procedures, which have helped the sector participants. 

According to K Ravichandran, Senior Vice President and Group Head-Corporate Ratings, ICRA, “The reelection of NDA will be credit positive for the domestic port sector, as they are expected to continue with their port-led developmental model, which will throw open several business opportunities for the incumbents. Going ahead, adequate budgetary support will be imperative to realise all the goals identified under the Sagar Mala programme. Moreover, finalisation of some of the long pending bills on the governing structure for the major ports will be critical to realise the potential in the sector.”

ALSO READ:

The BJP-led NDA government has won a landslide victory in the Lok Sabha elections 2019. The government is expected to step up its game and aggressively pursue various infrastructure projects in roads, power, airports, ports and railways sector, which can jump-start the slowing domestic economy. The turnaround time at ports has been reportedly reduced from 94 hours in FY14 to 64 hours in FY18 due to easing of norms, etc. Further, the dedicated freight corridor, likely to be operational within the next few years, is expected to improve railways logistics.During the the government’s last tenure major policy initiatives were rolled out such as Sagar Mala, reforms on the tariff side for major ports, new model concession agreement (MCA) and several trade facilitation measures such as Direct Port Delivery model and simplification of customs procedures, which have helped the sector participants. According to K Ravichandran, Senior Vice President and Group Head-Corporate Ratings, ICRA, “The reelection of NDA will be credit positive for the domestic port sector, as they are expected to continue with their port-led developmental model, which will throw open several business opportunities for the incumbents. Going ahead, adequate budgetary support will be imperative to realise all the goals identified under the Sagar Mala programme. Moreover, finalisation of some of the long pending bills on the governing structure for the major ports will be critical to realise the potential in the sector.”ALSO READ:Power sector to government: Ease of private sector participation necessaryStrengthen overall economy: Realty expectation from the government

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?