Expanding the potential of seaports.

The Indian government has just approved the development of the new Vadhavan deep-water port, with an estimated cost of up to $9.14 billion, and is expected to rank among the "top 10 seaports in the world ".

Speaking to reporters, India's Minister of Electronics and Information Technology, Ashwini Vaishnaw, said that the Vadhavan port will be built on India's west coast, about 150km from the financial capital Mumbai (Maharashtra state), and is an important part of the plan to connect India with Europe via sea and rail routes through the Middle East.

The Vadhavan port will include berths for receiving “large vessels” and berths for tankers carrying oil, automobiles, and other imports, with an annual capacity of 298 million tons. The new port will have 9 container berths, each 1km long; 4 multi-purpose berths, each 250m long; and 4 other berths for handling liquid cargo; potentially creating direct and indirect jobs for approximately 1 million individuals.

According to The Economist, the majority of Indian voters view Prime Minister Narendra Modi's greatest achievement during his two terms as the country's infrastructure reforms. Tens of thousands of kilometers of highways have been built, dozens of high-speed intercity and urban subway lines have been opened, and an increasing number of Indians are flying.

Modi's government harbors ambitions to transform India into a manufacturing and export hub, acting as a link in the global supply chain. World-class ports are particularly essential to realizing these goals. The maritime sector accounts for 95% of India's trade by volume and 65% by value.

India now boasts dozens of major ports with their capacity more than doubling in the past decade, from 745 million tonnes to over 1,600 million tonnes. The time it takes for cargo ships to arrive and depart has plummeted from 127 hours in 2010-2011 to just 53 hours in 2023. India has risen from 54th place in the World Bank's "Logistics Performance Index" a decade ago to 38th place in 2023. These achievements are driving Prime Minister Narendra Modi to continue his port expansion plans in his third term, aiming to transform India into a global manufacturing and export hub as envisioned.

KHANH MINH

Source: https://www.sggp.org.vn/mo-rong-tiem-nang-ve-cang-bien-post745574.html