Port sector gets encouragement from govt

Government has taken several steps to encourage investments in the port sector including the following:

(1) 100% FDI under the automatic route is allowed for Port development projects.

(2) Port Sector has been given infrastructure status.

(3) Bidding documents like Request for Qualifications, Request for Proposal and Concession Agreement have been standardised for Public Private Participation (PPP) projects.

(4) The Tariff Guidelines for Major Ports have been revised giving more flexibility to the PPP operators to respond to market conditions.

Discussions have been held with all coastline states including Gujarat while formulating perspective plan for development and modernization of Ports, namely, “The Maritime Agenda 2010-2020”. Further, discussions have also been held with the coastline states while formulating the Sagarmala Project which is aimed at a comprehensive development of ports, port led development of the hinterland and efficient connectivity.

This information was given by Minister of State for Shipping, Shri Pon Radhakrishnan in a written reply in the Lok Sabha.

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