New Delhi: The strength of the Indian fleet increased to 1,463 ships with gross tonnage (GT) of 13.011,000 on December 31, 2021, according to the economic survey.
At the end of 2019, this country had 1,429 ships and 12,746,000 GT, said the survey for 2021-22.
Minister of Finance Nirmala Sitharaman on Monday Ladled in the Parliament of the Economic Survey which detailed the economic situation ahead of the government budget for the fiscal year began April 1, 2022.
“On December 31, 2021, India has the strength of the 1463 fleet with a dirty tonnage of 13.011 thousand compared to 1429 ships and 12,746 thousand GT at the end of 2019.
However, the Indian fleet was only 1.2 percent of the world fleet in terms of capacity and carrying only 7.8 percent (for 2018-19) from Exim India trade, “he said.
Further surveys say port performance is very important for any economic competitiveness, and port capacity expansion has been given the highest priority by the government through the implementation of infrastructure development projects prepared properly.
The capacity of 13 main ports, 871.52 million tons per year (MTPA) at the end of March 2014, increased 79 percent to 1,560.61 MTPA at the end of March 2021.
Traffic handled at the port 672.68 MT for 2020-21, 4 , 6 percent lower than that in the previous year because of interference throughout the world in international trade due to a pandemic.
The average turned time at the main port has been reduced from 62.11 hours in 2019-20 to 55.99 hours by 2020-21 because of the various steps taken by the government to increase the ease of doing business, note.
In the ambitious sagarmala project the government, the survey said the National Program aimed to accelerate economic development in the country by utilizing the potential of the coastline of 7,500 km India and 14,500 km of potentially navigated waterways.
The Sagarmala project includes the modernization of the port and development of new ports, increased connectivity, port-led industrialization, coastal community development, coastal delivery and inland water transportation.
At present, there are 802 projects worth the investment of Rs 5.54 Lakh Crore for implementation under the Sagarmala program in 2035.
From here, 181 projects worth RS 94,712 Crore have been completed and 223 projects worth RS 2.11 Lakh Crore are under implementation.
Furthermore, 398 projects worth RS 2.48 Lakh Crore are under various stages of development, said the survey.