1. Home
  2. Infrastructure Transport
  3. PORTS & SHIPPING
  4. Private ports in India see double-digit growth in FY24
Private ports in India see double-digit growth in FY24
PORTS & SHIPPING

Private ports in India see double-digit growth in FY24

06 May 2024 2 Min Read CW Team
In the fiscal year 2023-24, private ports in India have outshined their major counterparts, exhibiting robust double-digit growth. This surge in performance highlights the agility and competitiveness of privately operated ports in the country's maritime sector.

Bucking the trend of sluggish growth seen in the overall port sector, private ports have emerged as frontrunners, capitalizing on strategic investments, operational efficiencies, and customer-centric approaches. Their ability to adapt swiftly to changing market dynamics has enabled them to seize opportunities and expand their market share.

The growth trajectory of private ports underscores their pivotal role in India's maritime trade landscape, offering modern infrastructure, streamlined processes, and superior service quality. By leveraging technology and innovation, these ports have enhanced productivity and customer satisfaction, setting a benchmark for the industry.

Key factors driving the stellar performance of private ports include their focus on diversification, capacity expansion, and integration of logistics services. This holistic approach has enabled them to cater to a wide range of cargo segments and provide end-to-end solutions to customers, thereby strengthening their competitiveness in the global market.

Additionally, private ports have capitalized on government initiatives such as Sagarmala and ease of doing business reforms to further augment their growth prospects. By aligning with national priorities and fostering collaboration with stakeholders, they have positioned themselves as key enablers of India's maritime trade ambitions.

Looking ahead, private ports are poised to sustain their momentum and continue their growth trajectory, supported by favorable policies, investments in infrastructure, and ongoing efforts to enhance operational efficiency. Their success story not only underscores the resilience of the private sector but also contributes significantly to India's maritime aspirations.

In the fiscal year 2023-24, private ports in India have outshined their major counterparts, exhibiting robust double-digit growth. This surge in performance highlights the agility and competitiveness of privately operated ports in the country's maritime sector. Bucking the trend of sluggish growth seen in the overall port sector, private ports have emerged as frontrunners, capitalizing on strategic investments, operational efficiencies, and customer-centric approaches. Their ability to adapt swiftly to changing market dynamics has enabled them to seize opportunities and expand their market share. The growth trajectory of private ports underscores their pivotal role in India's maritime trade landscape, offering modern infrastructure, streamlined processes, and superior service quality. By leveraging technology and innovation, these ports have enhanced productivity and customer satisfaction, setting a benchmark for the industry. Key factors driving the stellar performance of private ports include their focus on diversification, capacity expansion, and integration of logistics services. This holistic approach has enabled them to cater to a wide range of cargo segments and provide end-to-end solutions to customers, thereby strengthening their competitiveness in the global market. Additionally, private ports have capitalized on government initiatives such as Sagarmala and ease of doing business reforms to further augment their growth prospects. By aligning with national priorities and fostering collaboration with stakeholders, they have positioned themselves as key enablers of India's maritime trade ambitions. Looking ahead, private ports are poised to sustain their momentum and continue their growth trajectory, supported by favorable policies, investments in infrastructure, and ongoing efforts to enhance operational efficiency. Their success story not only underscores the resilience of the private sector but also contributes significantly to India's maritime aspirations.

Next Story
Infrastructure Energy
31 Jan 2025

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

The Economic Survey 2024-25, presented by Union Finance Minister Nirmala Sitharaman, indicates substantial improvement in India’s labour market, driven by strong post-pandemic recovery and formalisation of the workforce. Key findings include a significant drop in the unemployment rate from 6 per cent in 2017-18 to 3.2 per cent in 2023-24. Additionally, there has been notable growth in female labour force participation, which increased from 23.3 per cent in 2017-18 to 41.7 per cent in 2023-24.Other highlights include:Over 30.51 crore unorganised workers registered on the eShram portal, suppor..

Read More
Next Story
Real Estate
31 Jan 2025

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

Aditya Birla Housing Finance Ltd. (ABHFL), a subsidiary of Aditya Birla Capital, has raised Rs 8.3 billion through non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The company stated that the funds will be used to provide housing loans to low- and middle-income groups (LIG and MIG), with a special focus on promoting homeownership among women. Additionally, a portion of the investment will support MSMEs, particularly women-led enterprises, to drive economic growth. The initiative aims to strengthen financial inclusion and uplift underserved communities in the ..

Read More
Next Story
Infrastructure Energy
31 Jan 2025

Bihar to Bid Out 2,400 MW Power Plant by March

The Bihar government plans to auction the proposed 2,400 MW coal-based power plant at Pirpainti by March 2025. Part of the state's FY25 budget initiatives, the project is valued at Rs 214 billion, covering multiple power sector developments. Coal for the plant is expected to come from Eastern Coalfields, with fuel and location already determined to streamline the bidding process. Discussions are underway to finalise coal supply under the SHAKTI scheme, with a resolution expected by February. The Central government has also pledged support for fast-tracking environmental clearances to facilit..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey
POWER & RENEWABLE ENERGY
31 Jan 2025

Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC
Real Estate
31 Jan 2025

Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

Bihar to Bid Out 2,400 MW Power Plant by March
COAL & MINING
31 Jan 2025

Bihar to Bid Out 2,400 MW Power Plant by March

Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win
ECONOMY & POLICY
31 Jan 2025

Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win

We are shaping the next era of vertical mobility
ECONOMY & POLICY
31 Jan 2025

We are shaping the next era of vertical mobility

Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn
Real Estate
31 Jan 2025

Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn

Gurugram’s Key Corridor Set for Expansion
RAILWAYS & METRO RAIL
31 Jan 2025

Gurugram’s Key Corridor Set for Expansion

Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra
RAILWAYS & METRO RAIL
31 Jan 2025

Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000