India’s ports need doubling of capacity, $25 billion in investment
India’s port sector needs $25 billion in investment by 2015, national shipping secretary APVN Sarma said Wednesday at a conference in Delhi.
More than half that amount is needed for development of seaports, while the rest is required for inland waterways and shipping, the Economic Times reported. Sarma also said India’s ports need a doubling of capacity to handle surging trade.
'The traffic at the ports has been increasing at a rapid pace and therefore, increasing cargo handling capacities of the ports is crucial to sustain high growth in exports and imports,' he said.
India’s shipping ministry is looking to the private sector to fund much of the expansion as trade by volume increased by 15 percent in 2007, nearly 30 percent in imports.