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Budget 2025 : As India sharpens its focus on its manufacturing vision, a key challenge for the Prime Minister Narendra Modi-led government would be to provide adequate infrastructure to enable the export of the goods produced in the country. In the upcoming Budget, the Centre would have to provide a major push to the ports in the country to achieve the ambitious dream. ET Year-end Special Reads Stocks to buy in 2025: 66 ideas from top brokerages for your new year portfolio What does 2025 hold for India's IT services sector? 2025 may be the year of EVs in India, dominated by SUV launches The government will present the Union Budget for the financial year 2025–26 in February 2025.
The Budget is expected to strengthen India's manufacturing base, promote exports and simplify trade-related processes to boost global competitiveness. Read More: Can Budget 2025 address India's unemployment woes? Since the campaign to be China plus 1 for US started, India has been readying plans for new ports while expanding existing docks. The need to have world class shipping infrastructure to further compliment the manufacturing sector remains an essential key to the success.
The trend of big giants foraying their way to India can only be sustained if India’s ports are able to do their part. With aim to be alternate option to China, India needs to first build a signicance in the world of shipping, which is currently dominated by the neighouring country. According to the World Shipping Council’s 2019 rankings, seven of the world’s top 10 ports are in China.
The top five are Shanghai, Singapore, Ningbo-Zhoushan, Shenzhen, and Guangzhou. Except for Singapore, the rest are Chinese ports. At present, India has an installed port capacity of 2.
6 billion tonnes and is handling traffic of around 1.4 billion tonnes across all ports. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Basics of Generative AI: Unveiling Tomorrows Innovations By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance A2Z Of Money By - elearnmarkets, Financial Education by StockEdge View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Strategy Succession Planning Masterclass By - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.
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The Budget 2025 would also need to announce certain measures to boost “Maritime Amrit Kaal Vision 2047” launched by PM Modi. It is referred to as a document to support and boost India’s Blue Economy. “Our ports’ capacity needs to quadruple to around 10 billion tonnes by 2047,” says Sharma, adding that by then, the traffic at Indian ports is expected to reach 6.
8-7 billion tonnes which is a fivefold increase over current traffic,” Manish R Sharma, sector leader, infrastructure, PricewaterhouseCoopers told ET. In addition to incentive-based programs like PLI, the budget strategy must focus on financial and regulatory incentives and substantial investments in infrastructure. These investments are essential to reduce domestic logistics costs and improve the efficiency of India's supply chain.
Enhancements in transportation infrastructure are particularly crucial given India's current lag in global Logistics Performance Index rankings. What is India doing? Realising the need to have the required infrastructure, India has embarked on an ambitious voyage—to construct a gigantic port on the Maharashtra coast. The port at Vadhavan in Palghar district, when completed, would rank among the world’s top 10 container ports, a titan in the global shipping industry.
To grasp its scale, consider this: Vadhavan will be more than three times larger than India’s biggest ports now—the government-run Jawaharlal Nehru Port Authority (JNPA) in Mumbai and Adani-owned Mundra, the largest private port in the country. Vadhavan will be able to accommodate some of the world’s biggest cargo ships that can sail in with 24,000 20-ft containers. Recognising the need to identify the shortcomings, India initiated a comprehensive review of its ports, government officials said.
All large ports are being evaluated as a part of the exercise on multiple parameters to identify infrastructure deficiencies and highlight improvements.The idea is to scale up port capacities and ready some ports for handling larger ships and green transition, officials told ET. .
"Upgrading existing ports into regional maritime hubs is now the plan," a senior government official told ET. The evaluation will enable the government to firm up benchmark standards and best practices among ports that can be emulated nationwide. The government also proposes to rank ports in an exercise that will run in tandem with this evaluation and establish common minimum standards.
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