Fri Jan 31 22:20:22 UTC 2025: ## India’s Maritime Sector Booms: Port Capacity Soars, Connectivity Expands

**New Delhi, February 1, 2025** – India’s maritime sector is experiencing a significant surge, driven by strategic infrastructure projects and increased international cooperation, according to the Economic Survey 2024-25 released Friday. The survey highlights substantial growth in port traffic and capacity, along with advancements in inland waterway transport.

Key highlights include a 43% increase in vessel traffic and a 34% rise in container traffic at the Shahid Beheshti Port in Chabahar, Iran, significantly reducing transport times and costs between Mumbai and Eurasia via the International North South Transport Corridor (INSTC). The recently signed 10-year agreement between India and Iran for Chabahar Port operations, involving a $120 million investment by India, further solidifies this crucial trade route. Similarly, the Sittwe Port in Myanmar continues to provide an alternative route to Northeast India, reducing transport costs between Kolkata and Mizoram.

The government’s focus on inland waterways is also bearing fruit. India is investing heavily in developing waterways in Bangladesh (₹305 crore, 80% funded by India) and improving the Brahmaputra and Barak rivers (₹1,010 crore). The Economic Survey notes significant progress in the Jal Marg Vikas project on National Waterway-1, with 65% physical progress achieved. River cruise tourism is also flourishing, with passenger numbers experiencing substantial growth.

Furthermore, the Chennai-Vladivostok eastern maritime corridor is operational, transporting oil, food, and machinery. The Ministry of Ports, Shipping and Waterways reported a remarkable 76% capital expenditure up to November 2024, resulting in a dramatic increase in port capacity from 3 Million Metric Tonne Per Annum (MMTPA) to 21 MTPA in the same period this year. India aims to achieve a port handling capacity of 10,000 MMTPA by 2047.

The government’s Public-Private Partnership (PPP) initiatives have also yielded positive results, with 56 projects worth ₹41,480 crore operational, adding 550 MTPA to port capacity. The Sagarmala programme continues to drive improvements in logistics efficiency by harnessing India’s coastline and waterways. These combined efforts demonstrate a robust and expanding maritime sector contributing significantly to India’s economic growth.

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