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News on Indian Economy and Sectors, which have impacts in the market.

Nearly 95% of India's trade by volume and around 70% by value is handled through ports

27-Feb-26 10:51Hrs IST

Minister of State for Ports, Shipping and Waterways, S Shantanu Thakur, has highlighted in a speech the central role of the maritime sector in India’s global trade expansion and the vision to position India as a leading shipping hub by 2047. Thakur noted that nearly 95% of India’s trade by volume and around 70% by value is handled through our ports. This clearly shows that the maritime sector is not merely a transport channel — it is a strategic enabler of India’s global trade ambitions.

Emphasising the progress achieved in the maritime sector over the past decade, the Minister noted that India’s port capacity has more than doubled, cargo handling efficiency has improved significantly, and turnaround time at major ports has reduced substantially, supported by mechanisation and digitalisation initiatives.

He added that as India moves towards becoming a USD 5 trillion economy and realising the vision of Viksit Bharat 2047, export competitiveness will be one of the strongest pillars of our economic transformation. Thakur also highlighted the Government’s renewed focus on strengthening India’s shipbuilding ecosystem, noting that recent policy measures and budgetary support will help position India as a major global shipbuilding nation.

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