India’s Port Sector Growth Set To Surpass Global Growth: Report

New Delhi, Jul 22 (KNN) India’s port sector is expected to grow faster than major global economies, driven by strong domestic demand, rising trade, and significant government investment, according to a recent report by PL Capital.

Despite ongoing global geopolitical tensions and disruptions, the Indian ports industry is showing resilience and long-term potential.

From FY2002 to FY2025, cargo traffic at Indian ports recorded a compound annual growth rate (CAGR) of 6.2%. Within this, non-major ports—those managed by state governments—grew at a faster pace of 9.1%, while the 12 major central government-controlled ports saw a 4.7% growth.

This indicates a shift in cargo movement preference toward non-major ports, which are becoming increasingly efficient and better connected.

Currently, India’s total port capacity stands at around 2,700 million metric tonnes (MMT). The government has laid out ambitious plans to increase this to 10,000 MMT by 2047.

Flagship programmes such as Sagarmala and PM Gati Shakti are boosting investments in port infrastructure, improving road and rail connectivity, and creating multi-modal logistics parks near key ports.

Technological upgrades, including automated cargo handling and digital systems, are transforming port operations. The entry of private players and better integration with industrial and export zones are also contributing to the sector’s growth.

As India moves toward becoming a $10 trillion economy by 2030, the port sector will play a key role in enabling trade, supporting exports, and enhancing manufacturing competitiveness.

Additionally, the global shift toward the “China + 1” strategy presents India with an opportunity to become a major logistics hub.

Despite recent security alerts and the rising threat of maritime disruptions, the overall outlook for India’s port sector remains strong and optimistic.

(KNN Bureau)