BUDGET REACTION – Mr Ravindra Gandhi, Regional Director, Peel Ports Group
“The Finance Minister’s recent Union Budget proposal of converting India’s 12 Major Port Trusts into corporates under the Companies Act is expected to instill greater efficiencies in operations, besides providing funds which are crucial for growth. Public sector ports need huge capacity additions and investments to remain pulsating.
“This move gains importance, especially with the recent development that such capacities have significantly declined over the recent past. Encouraging corporatisation of ports will open up countless possibilities to enhance port productivity and is certainly a step in the right direction. In addition, the encouragement of public-private partnership (PPP) model would ensure that Indian ports remain competitive. We feel this passage will help us progress towards a paradigm shift in the Indian maritime sector through the Prime Minister’s flagship Sagarmala project. Besides, this move would certainly ensure quality and increased productivity of the Indian port infrastructure.”
This post was written by Atlantic Admin