NEW DELHI: In a bid to facilitate more private investment into the country’s ports, India is looking to set up a new department in order to more effectively attract private funds, according to JOC.com.
Shri Pon. Radhakrishnan, Minister of State for Shipping in India, said: “Development and improvement of capacity of cargo handling at major ports is a continuous process. Various activities such as augmentation of berths/terminals, mechanisation of berths, installation of state-of-the-art equipment, capital dredging, improving rail-road connectivity to ports etc. are regularly carried out to meet the demand of the market and improve the capacity of port.” Arun Jaitley, Finance Minister for India recently argued that if India doesn’t switch to privatisation, its major ports could begin to lose out to competition of minor ports.
