UK, Indian Port agree on historic partnership
At a formal event presided by Nitin Gadkari, Union Minister of Road Transport, Highways and Shipping, Jawaharlal Nehru Port Trust, signed a letter of intent (LoI) with UK ports operator, Peel Ports, who own the Port of Liverpool.
This LoI, the first such association between ports in the two countries, was signed by Neeraj Bansal, chairman, JNPT, with Peel Ports chief executive, Mark Whitworth.
Last year, UK invested $3.2 billion in India accounting for almost 10% of all FDI flows into India.
In 2014, 1.8 million tonnes of goods worth £3.9 billion were exported from the UK to India, with imports of 6.5 million tonnes to a value of £3.3 billion. Container shipping plays a major and increasing role in this trade.
Under the LoI, JNPT and Peel Ports have agreed to foster the exchange of information and expertise on port operations, port management and hinterland connections. They will also develop a series of modules in education and training of port operators, IT systems, traffic and trade between Liverpool and Mumbai.
Gadkari said, “There is immense strategic and economic value in our mutual collaboration to propel economic growth in each of our countries. This strategic alliance will drive efficient movement of goods and will build on our common objective of establishing optimal port performance.”