India’s container trade poised for growth: Study
According to a new study by Frost & Sullivan, India’s containerised transportation is poised for significant growth spearheaded by rising international trade, and increasing investments in ports infrastructure by the government and through public-private partnerships (PPPs).
According to the study, sea traffic carries 95.0% of India’s exports by volume and 70.0% in value terms. Considering the present stage of economic development, the shifting of manufacturing activities to India, privatisation of port operations, and demand from foreign nations to containerize commodities bode well for the market, the study says.
The analysis from Frost & Sullivan, Strategic Assessment of Containerization Trends in India, finds that container capacity handled for international and domestic traffic stood at 9.1 million twenty-foot equivalent units (TEU) in 2008, and expects this to reach 21.0 million TEUs in 2014.
"Indian merchandise export and import has registered a double digit growth of 23.0% during the year 2007-08. Trade was growing at over 25.3% CAGR over the past 5 years. Since a greater share of trade is moving towards finished goods requiring containerization, the container traffic in the country is experiencing an impressive growth," said a Frost & Sullivan research analyst.