Major boost in economy of Indian ports; registers annual growth rate of 3.24%

New Delhi, October 12: Economy in India has flourished since three years due to good governance. Therefore, major ports of the country have recorded a comprehensive growth of 3.24% and together handled 326.4 Million Tonnes of cargo during the period April to September 2017. Cochin Port has registered the highest growth.

 

Notably, the major ports in India have recorded a growth of 3.24% and together handled 326.4 Million Tonnes of cargo during the period April to September 2017 as against 316.1 Million Tonnes handled during the corresponding period of previous year. Seven Ports including Kolkata, Paradip, Chennai, Cochin, New Mangalore, Mumbai and JNPT has registered positive growth in traffic during the period April to September 2017.

Cargo traffic handled at Major Ports:

· The highest growth was registered by Cochin Port (19.62%), followed by Kolkata [incl. Haldia], New Mangalore, Paradip with a growth of about 12%.

· Cochin Port growth was mainly due to increase in traffic of POL (27.8%) and Containers (10.3%).

· In Kolkata Port, overall growth was positive i.e. 11.95%. Kolkata Dock System (KDS) registered traffic growth of 0.72%. Haldia Dock Complex (HDC) registered positive growth of 17.74%.

· During the period April to September 2017, Kandla Port handled the highest volume of traffic i.e. 53.29 Million tonnes (16.33% share), followed by Paradip with 47.61 Million Tonnes (14.59% share), JNPT with 32.69 Million Tonnes (10.02% share), Mumbai with 31.23 Million Tonnes (9.57% share), and Visakhapatnam with 30.15 Million Tonnes (9.24% share). Together, these five ports handled around 60% of Major Port Traffic.

· Commodity-wise percentage share of POL was maximum i.e. 34.01%, followed by Container (20.22%), Thermal & Steam Coal (12.66%), Other Misc. Cargo (12.17%), Coking & Other Coal (7.6%), Iron Ore & Pellets (6.65%), Other Liquid (4.35%), Finished Fertilizer (1.24%) and FRM (1.11%).

Shipping Minister Nitin Gadkari said, “Growing ports are becoming catalysts for shaping the Prime Minister’s vision of a ‘New India. The Government is committed towards inclusive development to generate continuous growth and prosperity. Timely delivery of projects will help give the much-needed boost to the economy."