The Indian government is looking to give a major push to shipping and port infrastructure through planned upgrades at an estimated cost of roughly $25bn, according to an article published on November 30 on Indian English-language news service Times Now.
These plans fall under the PM Gati Shakti, a national plan initiative in October last year aimed at developing integrated infrastructure for the country. It is set to incorporate the infrastructure schemes of various ministries and state governments, namely in road developments, logistics, inland waterways and ports.
The ports at Paradip, Visakhapatnam, and Kolkata in the east of India are set to be prioritised.
This year, foreign investors have been piling into India’s logistics sector in increasing numbers. According to fDi Markets, there have been 34 tracked greenfield projects so far in 2022 in logistics, distribution and transportation – the highest number since 2018.