Page 15 - 2024

TH
17 CONVOCATION
economy at $ 3.7 Trillion in 2023-24 and will rise to $ 7.3 Trillion by 2030. India’s GDP
is estimated to be around $ 26 trillion in market exchange rate terms by 2047-2048.
India’s per capita income would exceed $ 15000 by FY 48’ thereby putting it among
the ranks of developed economies.

INDIA’S RISING MARITIME PROWESS

India comprises a significant size maritime sector with 12 Major and 200+ Non-
Major Ports handling 2605 MTPA, situated along its 7500 km long coastline and a
vast network of navigable waterways with 10 % growth in coastal shipping in the last
5 years. The country’s maritime sector plays a crucial role in its overall trade and
growth, with 95% of the country’s trade volume and 65% of the trade value being
undertaken through maritime transport. There are nearly 43 Shipbuilding yards, 14
million GRT ship carrying capacity, 2.5 + lakh active seafarers and India handles 33%
of the global ship recycling, 203 lighthouses of which 75 lighthouses being
developed in PPP mode with over 10 lakh tourist footfall in the past 10 years. The
111 National Waterways with 23 operational National Waterways witnessing cargo
growth of 38% CAGR in the past decade are all pointers towards India’s progress in
the maritime sector as a maritime power globally.

Total traffic handled at Indian Ports rose from 1560 MTPA in 2014-15 to 2627 MTPA
in 2022-23 with a vision to reach 3500+ by 2030. There has been 102 % increase in
Major ports capacity, 1734 % increase in cargo handled in National waterways, 150
% increase in value of operationalized PPP projects ( 16 K cr to 40 K Cr) , 33 %
increase in ship carrying capacity ( 10K GRT to 14K GRT), 262% increase in annual
cruise passengers, 121 % increase in seafarers, 1300 % increase in wind and solar
power capacity in Major ports ( 10 MW to 139 MW) and 136 % increase in footfall of
tourists to lighthouses ( 4 Lac to 10 Lac)
100 MTPA26 capacity. Two Indian Ports (JNPA at 33, Mundra at 37) appear within
the top 40 ports category. There is a significant potential to develop port
infrastructure in India and become competitive with other leading maritime nations
such as the US, China and other South-East Asian regions. Hence, Indian ports need
to focus on increasing draft availability according to their respective cargo profile.
Class infrastructure are being developed at Wadhwan, Paradip and Deendayal

Our major ports are today witnessing double digit annual growth and as per the
World Bank’s Logistics Performance Index report,

(i) Among 139 Countries, India spectacularly climbed 16 positions from 54th Position
to 38th Position in 2022
(ii) In timelines, the country witnessed a 17 place jump in ranking from 52 in 2018 to
35 in 2022.

13