The Centre has determined to assemble a global container transshipment port at Nice Nicobar Island, at a value of roughly RS. 41,000 crore. On this State of the Financial system Podcast, businessline’s T E Raja Simhan speaks to Jagannarayan Padmanabhan, Senior Director and World Head of Transport, Logistics and Mobility, CRISIL, in regards to the Nice Nicobar Island venture and the way in which ahead for the logistics sector.
Padmanabhan explains the important position of transshipment in India’s aspirations to turn out to be a $ 5 trillion financial system. He emphasises the significance of optimising logistics and decreasing prices for commerce, underscoring the strategic want for a transshipment port to facilitate these objectives. The speaker additionally mentions the rising measurement of container ships, highlighting how bigger vessels can considerably cut back transportation prices.
Padmanabhan acknowledges challenges resembling environmental issues, funding necessities for a greenfield venture, ability improvement, and ecological impression. He sees the Nicobar Island venture as a long-term endeavour, spanning a decade or extra, to make sure it aligns with India’s evolving financial panorama.
He underscores the geopolitical significance of securing commerce routes and means that a number of ports will serve completely different transport traces, every doubtlessly adopting a particular port for his or her operations.
Jagannarayan analyses the feasibility of producing substantial container site visitors for the brand new port, suggesting a gradual improve in capability based mostly on India’s financial progress trajectory. He discusses the potential for a wide range of cargo sorts, resembling bulk and liquid, whereas emphasising that containers stay the first focus because of their cost-saving and trade-securing benefits. He discusses the transformative potential of the port and sees it contributing to value discount, commerce safety, and elevated containerisation of cargo. Hearken to the podcast!
(Host: T E Raja Simhan, Producers: Anjana PV & Siddharth MC)
In regards to the State of the Financial system podcast
India’s financial system has been hailed as a brilliant spot amid the final gloom that appears to have enveloped the remainder of the world. However a number of sectors proceed to stutter at the same time as others appear set to fireplace on all cylinders. That will help you make sense of the bundle of contradictions that the nation is, businessline brings you podcasts with specialists starting from finance and advertising and marketing to know-how and start-ups.
