In October, central government-owned major ports in India witnessed a remarkable turnaround, recording a 13% growth in cargo handling, totaling 70 million tonnes. This surge marks the first double-digit percentage growth in the fiscal year 2023-24 (FY24), following sluggish performance in the previous fiscal year and a tepid start this year. The growth in container handling, particularly a 19% increase in October, suggests heightened movements of finished goods. However, it remains unclear whether this growth is fueled by international trade or increased coastal movements of domestic goods. The Ministry of Ports highlights improvements in key operational parameters, including a reduction in idle time at berths and significant decreases in pre-berthing time, signaling enhanced efficiency. Despite these positive developments, the state-owned ports face scrutiny as private ports continue to outpace them in cargo traffic growth, especially in coastal cargo, which saw minimal growth in major ports compared to a 21% increase in privately-owned ports in FY24.

SOURCE GOOGLE