Navi Mumbai port handled most merchandise in FY16

Nhava Sheva (Navi Mumbai) port handled the highest amount of merchandise trade in the country during the past financial year, at $45.1 billion.

This was revealed on Monday, after the commerce ministry unveiled a new online portal aimed at analysing foreign trade statistics. Developed by Gramener, a private data visualisation company, in association with the ministry of electronics and information technology, the portal would allow traders and analysts greater access to foreign trade data.

Delhi Airport was the second choice for exporters, sending out merchandise worth $29.4 bn. Followed by Chennai port with $28.4 bn of merchandise.

Petroleum and other mineral oils were the highest traded commodity, worth $65.9 bn, followed by non-monetary unwrought forms of gold ($31.5 bn) and non-industrial diamonds ($14.1 bn).  

“The ministry has drawn a lot of flak over falling exports, the figures for which need to made available to the public in an easy manner,” an official said on condition of anonymity. The official said the initial plan was to put up data for five years.

Exports contracted for 19 months till May, before rising marginally by 1.3 per cent in June. Compared to this, during the 2008-09 global financial meltdown, the decline was for nine months in a row.  In 2015-16, total exports were $260 bn, a five-year low and down 15.9 per cent from the $310 bn a year before.

The website showed the highest level of bilateral trade was with China, followed by America. However, India has a steep trade deficit with China. In 2015-16, exports to China were $9 bn and imports were $61.7 bn. Commerce and industry minister Nirmala Sitharaman said the government had recently raised the issue of greater market access in China. At a recent meeting with China’s ambassador-designate to India, she said, she’d flagged various issues in information technology and pharmaceuticals.

“I have spoken to him in detail about various areas on which I want the Chinese to respond to us. He has assured me that he would look into it and come back to us,” she told reporters.

There are several Indian IT companies with established business in China but whose operations are lagging as permissions are not given easily and inspections happen over and over, she said. And, Indian banks there aren’t getting enough operational freedom.