Opportunities In The Maritime Sector
India’s latest budget charts a bold course for maritime growth — with ₹75,000 crore set aside for nearly 100 connectivity projects linking ports to road and rail. As trade surges, this move could turn our coasts into engines of economic and MSME opportunity. Dive in to see how.
In the budget presentation by the Hon. Finance Minister, around a hundred connectivity projects have been mentioned to be taken up this year with an outlay of Rs 75000 Crore. This is a significant move enabling the sustained growth of our economy.
Current Scenario of the Maritime Sector
Currently, in India, there are 217 major and non-major ports. Twelve major ports are under the Ministry of Port Shipping and Waterways's administrative control, while the remaining non-major ports are under the State Maritime boards.
Our nine coastal states and union territories directly control the non-major ports. Out of the non-major ports, only 66 ports are functioning. These 66 non-major ports and 12 major ports contribute as our ocean gateways for our EXIM business. While our total port capacity is 2500 MMTPA, our through put is around 1200-1300 MMTPA.
Among various factors that contribute to the overall efficiency of our ports, the most important factor is road and rail connectivity, enabling faster agglomeration and evacuation of Cargo.
As stated above, the budget announcement of 75000 Crore for nearly 100 connectivity projects is significant. It opens up a pandora's box of opportunities in the Maritime sector.
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