Recently Ports and shipping in India have gained significant attention, with a ₹69,725 crore package approved to revitalize the maritime sector. The initiative aims to enhance domestic shipbuilding, improve financing options, develop shipyards, and upgrade technical skills, fostering a robust infrastructure for India’s competitiveness in the global shipping industry.
Vadhavan Port in Maharashtra’s Palghar district has secured agreements worth ₹57 billion for its upcoming facility. With a total investment of ₹760 billion, the port aims to become India’s 13th largest container port, featuring specialized terminals for liquid cargo and chemicals, enhancing India’s global maritime trade capabilities.
In the 2023-24 fiscal year, Paradip Port in India achieved a significant milestone by handling 145.38 million tons of freight, surpassing DEENDAYAL Port to become the country’s highest major port. This growth highlights the port’s increasing importance in the Indian maritime sector. Expansion projects are underway to meet growing demand and enhance capabilities.
