NEW YORK, November 18, 2016 /PRNewswire/ --
Rising investments by private players and relaxation of government policies pertaining to port development to drive India port infrastructure market through 2025
According to TechSci Research report "India Port Infrastructure Market By Type, By Cargo, Forecast and Opportunities, 2011 - 2025", India port infrastructure market is projected to grow at a CAGR of over 9% during 2016-2025, on account of heavy funding pertaining to development of ports and related infrastructure such as connecting roads, railways and Coastal Economic Zones. Additionally, National Perspective Plan of the government envisaged an investment of USD10.51 billion for development of ports. Additionally, government's focus on ease of doing business such as allowing 100% FDI under automatic route for projects related to construction and maintenance of ports and harbors provides a promising outlook for future development and growth of port infrastructure market in India.
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Browse 46 market data Tables and 47 Figures spread through 194 Pages and an in-depth TOC on
"Indian Port Infrastructure Market"
Major ports, owned by central government, dominated India ports infrastructure market in 2015. However, the trend is anticipated to change and minor ports are projected to dominate India port infrastructure market through 2025, as these ports are strategically located to optimize cargo through put and are well connected by roads and railways. This makes minor ports economically viable for cargo handling and trade. Additionally, involvement of international private players at these ports also provides minor ports with a competitive edge pertaining to implementation of best practices and latest technologies. In FY2015, import traffic at Indian ports accounted for a volume share of over 66% of total international trade. Growing government focus on improving trade through waterways is projected to augur well for India port infrastructure market in the coming years.
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"Indian ports are witnessing a paradigm shift from being underutilized and congested to modernized and smart due to implementation various government initiatives. The current situation of ports in India offers a substantial opportunity for development of ports and connecting infrastructure. Ministry of Shipping announced plans to develop Costal Economic Zones around major ports to provide impetus to 'Make in India' initiative and promote port-led industrialization. In 2015, the ministry identified 14 coastal economic zones under National Perspective Plan of Sagarmala with massive coastline of 7,517 kilometers and Inland waterways of 14,500 kilometer, ports present tremendous potential for transport of commodities" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Port Infrastructure Market By Type, By Cargo, Forecast and Opportunities, 2011 - 2025" evaluated future growth potential of the India port infrastructure market and provided statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in India port infrastructure market.
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