India’s port sector is experiencing significant growth, according to a PL Capital report, despite ongoing global trade tensions. Driven by increasing domestic consumption, expanding trade volumes, and proactive government infrastructure initiatives, India is outpacing many major economies.
The report emphasizes the link between port development and economic progress, highlighting India’s ambitions to become a global manufacturing hub and its robust export strategies. This growth is enhancing both the port and logistics sectors, positioning India as a key player in global maritime trade.
Between FY02 and FY25, cargo volumes at Indian ports are projected to grow at a compound annual growth rate (CAGR) of 6.2%, with non-major ports outperforming major ones at 9.2% versus 4.7%. Currently, India boasts 12 major seaports and over 200 non-major ports, collectively managing approximately 2,700 million metric tonnes (MMT) of cargo capacity.
The Indian government aims to increase total port capacity to 10,000 MMT by 2047, bolstered by initiatives like Sagarmala and PM Gati Shakti. This growth, alongside rising containerization and a shift to multimodal logistics, positions the port sector as a vital contributor to India’s goal of becoming a $10 trillion economy by FY30.
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