India's Major Ports Witness Significant Cargo Volume Growth in FY24
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India's Major Ports Witness Significant Cargo Volume Growth in FY24 India's Ports and Shipping sector has been experiencing a significant surge in growth, showcasing impressive performance indicators and infrastructural advancements. In FY24, the 12 major ports under the Union government's ownership handled a total of 819.227 million tonnes (mt) of cargo, reflecting a 4.45% increase from the previous year's 784.305 mt. This growth is pivotal, as approximately 95% of India's international trade volume is managed through these ports, signaling enhanced efficiency and capacity in the sector. FY24 Performance Overview According to the Ministry of Ports, Shipping, and Waterways, the major ports collectively handled 12.310 million Twenty-Foot Equivalent Units (TEUs), marking an 8.06% increase from FY23's 11.392 million TEUs. The Jawaharlal Nehru Port Authority led the way, managing 6.43 million TEUs, accounting for over half of the total volume. Key cargo segments a...