PMO launches new maritime strategy, to infuse funds into port sector

With almost all major ports languishing with low traffic levels, the funds will go a long way towards expanding cargo capacity and improving port facilities

The Prime Minister's Office has approved a three-pronged strategy for the development of the maritime sector, the key element of which is to finance the development of ports with at least Rs 25,000 crore from the Maritime Development Fund (MDF).  

 

India’s so-called ‘major ports’, so named because they are run by the central government, are almost all badly in need of funds to handle the expansion of ocean-going traffic, which is expected to grow annually at a CAGR of close to 5 percent. It grew by 4.6 percent in the first half of FY25.  

 

The expansion of ports’ capacity will