New Delhi, Feb 14 (Inditop.com) The Indian port sector has attracted only $3.21 billion in investments since the beginning of the current 11th Plan (2007-12), less than a quarter of what is expected for this Plan period, says the Associated Chambers of Commerce and Industry of India (Assocham).
“So far only $3.21 billion of private investments have come to the port sector despite reasonably impressive economic growth of India,” Assocham said in a study.
The industry group said the projected investments for the 11th Plan period – which ends in March 31, 2012 – in the port sector is around $22 billion, of which 62 percent ($13.64 billion) is expected to be contributed by the private sector.
“Gujarat Pipavava was the first port in India that received private funding to the tune of $30 million.
India has 12 major and about 200 smaller ports that account for 95 percent of India’s total trade in terms of volume and approximately 70 percent in terms of value.
According to Assocham, several new projects involving cargo handling capacity have already commenced at Chennai, Kochi, Mumbai, Paradip and Visakhapatnam.
