CMIE predicts 5.2% growth in cargo traffic
The Centre for Monitoring Indian Economy (CMIE), in its latest report has pegged growth of cargo traffic at all major ports at 5.2% for 2009-10. As per the report, growth will be fuelled by an expected increase in domestic demand and trade in the second half of the current fiscal.
The CMIE report also highlighted that cargo traffic across major domestic ports clocked a sound 8.1% growth at 45.4 million tonnes in the month of June due to improvement in international trade and other factors. Traffic also staged a recovery after witnessing a decline between October 2008-May 2009 (barring December) as 13 major ports registered an increase, the report added.
Improvement in the international trade situation and higher operational days with respect to cargo movement due to weak monsoon are said to be the main reason driving the growth, the report said, adding the count was highest since May 2008. As per the CMIE, Kandla Port, which witnessed 25.1% more traffic at 7.4 million tonnes, replaced Visakhapatnam as the busiest port in the country.