Indian Maritime Sector Poised To Grow

The Indian maritime sector is poised to make great progress in the coming years. Despite the fact, the Indian maritime sector faces a number of challenges viz. lack of coordination in port traffic management, non-uniform tariff structure, high turnaround time, low draft & siltation, poor connectivity to hinterland, delay in getting environment clearances.

- Rashmi Pradhan

The government has launched a series of initiatives to boost and revive the Indian maritime sector. Most notable is the Sagarmala initiative, which aims to transform existing ports and integrate the development of ports, industrial clusters and hinterland evacuation. It is estimated that India can save up to $28 billion in infrastructure investment and another $3.3 billion in transportation cost if 50 percent of overall trade moves closer to ports by 2020.