admin, Author at Sri Venkateswara College of Engineering

April 20, 2020May 16, 2020

CIVIL ENGINEERING FUTURE IN NEXT 10 YEARS

Civil Engineering is one of the oldest and broadest engineering disciplines. Civil Engineering involves planning, designing, constructing, maintaining, and supervising infrastructures, which include facilities essential to modern life like highways, bridges and tunnels, schools, hospitals, airports, and other buildings, sewage systems, and water treatment facilities. Subsequently, the course also involves protecting the public and environmental health as well as improving existing infrastructure.

Market Size:

By 2040, the real estate market will grow to Rs 65,000 crore (US$ 9.30 billion) from Rs 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing the much-needed infrastructure for India’s growing needs. Indian real estate increased by 19.5 per cent CAGR from 2017 to 2028.

Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for office space in recent times. Commercial office stock in India is expected to cross 600 million square feet by 2018 end while office space leasing in the top eight cities is expected to cross 100 million square feet during 2018-20. Gross office absorption in top Indian cities has increased 26 per cent year-on-year to 36.4 million square feet between Jan-Sep 2018. Co-working space across top seven cities has increased sharply in 2018 (up to September), reaching 3.44 million square feet, compared to 1.11 million square feet for the same period in 2017. New completion of office space is expected to increase 15 per cent to cross 43.6 million square feet in 2019.

Investments/Developments

The Indian real estate sector has witnessed high growth in recent times with the rise in demand for office as well as residential spaces. Private Equity and Venture Capital investments in the sector have reached US$ 1.47 billion between Jan-Mar 2019. Institutional investments in India’s real estate are expected to reach US$ 5.5 billion for 2018, the highest in a decade. Between 2009-18, Indian real estate sector attracted institutional investments worth US$ 30 billion and received US$ 2.3 billion in the first half of 2019. Real estate attracted around US$ 14 billion of foreign private equity (PE) between 2015 and Q3 2019.

During April-June 2019, the gross leasing of office space doubled to 18.7 million sq ft across eight major cities.

According to data released by the Department of Industrial Policy and Promotion (DIPP), construction is the fourth largest sector in terms of FDI inflows. FDI in the sector (includes construction development and construction activities) stood at US$ 25.12 billion from April 2000 to June 2019.

Market seems to be fine what the media have to say on this?

India needs Civil engineering skill development for the booming construction industry by India Today

The construction industry will become India’s largest employer by 2022 with 72 million employees. But what does India need to do to supply skilled engineers?

For a developing country like India, infrastructure is predominant for the economic progress of the country. With India’s GDP projected at 7.8 per cent in 2019, skilled professionals are the need of the hour to achieve a continued progression. Being a capital-intensive industry, construction is an imminent contributor to the national economy as the range of consumers of the construction market has varied over the years.

As per industry estimates, the size of India’s construction industry is expected to be USD 1 trillion by 2030 and contribute to 13 percent of the country’s GDP by 2025. Considered as the fastest growing industry, construction is poised to become the largest employer by 2022, employing more than 75 million people. With close to 1.5 million engineers graduating in India every year, the country needs approximately 4 million civil engineers on an average, over the next decade, to deliver potential real estate space and planned infrastructure. Despite the legacy of civil engineering in India, and the huge requirement for qualified professionals working to develop the gaps in infrastructure and real estate, this field of study hasn’t flourished, with the construction sector seeing a 6.27 percent decline in employment according to a recent survey. Raising skill levels, properly equipping the workforce, providing improved welfare and ensuring greater safety on sites will motivate workers and empower them to raise productivity.

Future of Civil Engineering in India in The Next Ten Years- Business World

In India, whenever one thinks of pursuing a graduation programme, engineering is always on the list. This is because time and again this field has shown how it has grown, adapted to the ever-evolving requirements and given students the knowledge and skills to pursue a fruitful career. Thanks to the increasing demand in the industry and improved scope, this field has branched into Mechanical, Civil, IT, Electronics and Telecommunications and other disciplines. One of these disciplines which stand strong and evergreen is Civil Engineering.

According to the definition, this branch deals with the design, construction and maintenance of manually or naturally-built environments such as roads, bridges, dams, airports, buildings and more. It is the art of applying Mathematics and Science to create a better place for everyone to live in. From stone-made bridges to cable-stayed eight-lane bridges, we have come a long way only because of successful Civil Engineering.

Despite the role this branch plays in the development of our country, many students often prefer opting for other disciplines. This is mainly because students are unaware of the scope and the future of Civil Engineering in India in the next ten years. So, let us delve into the understanding of what the future of Civil Engineering entails.

NRI investments in Indian real estate to rise to $13.1 bn in FY21

Once a limited force, the expatriate community currently accounts for a sizable part of Indian housing demand.

In the past few years, NRIs have come strength to strength in the Indian housing market. Once a limited force, the expatriate community currently accounts for a sizable part of Indian housing demand. As per a report by 360 Realtors, India’s leading real estate advisory, in FY 21, a total of $13.1 billion of NRI capital is expected to enter the Indian housing industry, growing by 5% on a YoY basis.

As a leading player in the NRI space, 360 Realtors has been tracking the NRI buying patterns over the past few years. As per the data available with the company, NRI investments will rise to $13.1 billion in FY 21 from $6 billion in FY 14, growing by a little less than a CAGR of 11%. Major sources of NRI investments include the USA, Canada, GCC, UK, Singapore, Malaysia, etc. Interestingly, GCC is the biggest source of NRI investments, accounting for around 42% of the total investment inflow. As there is no citizenship option available in the Gulf region, it is natural for the expatriates living there to buy a home in India.

NRIs are one of the crucial growth drivers for the Indian real estate. Post RERA implementation, the confidence levels of NRIs have gone through the roof. Interestingly, NRIs are not buying for end-use, but many are entering the market with a pure-play investment purpose. There are many NRIs who are maintaining a portfolio of properties,” said Ankit Kansal, Founder & MD, 360 Realtors.

Commercial real estate to continue to do well in 2020

The real estate sector is facing tough times for some time now, but the commercial segment is still doing well and also getting the maximum attention of investors.

The commercial segment is still doing well and also getting the maximum attention of investors. In fact, 2019 saw a total PE inflow of $970 million into Indian retail, and commercial realty attracted the maximum private equity investments, totaling nearly $3 billion in the first three quarters. In the retail sector, vacancy levels have come down to 14 per cent in the calendar year 2019. Approximately 7 million square feet of retail space is expected to enter the market in the year 2020, thereby contributing to the overall robust growth of the real estate sector in India.

Growth in this segment is good as investors show great interest in commercial and recently NRIs have also started investing in this segment mainly because of lucrative returns. When we compare the investment in commercial with residential, then it can be said that returns from commercial are better. An increasing number of private equity funds showed interest in the commercial office space in 2018, which was followed by the same in 2019. And now with news

of India’s first REIT trickling in, the trend of commercial office space having an upper hand in real estate assets will stay. There is likelihood of further infusion of liquidity in commercial property and developers will come up with more projects in this segment. Hence, it will create ample civil engineering job opportunities for the future aspirants.

April 20, 2020May 16, 2020

WHY IS SOUTH INDIA A HUB FOR REAL ESTATE?

7 reasons why South India continues to be the most preferred destination for real estate

The new policies implemented by the government have created structural changes in the Indian economy, and influenced by this, southern cities have become the focal point for future real estate developments. These cities are providing career opportunities in civil engineering.

Real estate in India has been experiencing dynamic transformation in recent times with a series of regulatory policies being brought about by the government. Reforms like RERA, demonetisation and GST have changed the landscape of real estate in the country. Even as these changes were being ushered in, South India continued to maintain momentum in real estate and has been a quiet crusader, strengthening and building itself as one of the most sought-after destinations in the country. Consequently, cities like Bangalore, Chennai and Hyderabad are now part of the global real estate map. The new policies implemented by the government have created structural changes in the Indian economy, and influenced by this, southern cities have become the focal point for future real estate developments.

By limiting new launches, focussing on completing delayed projects and aiming for projects that match consumer demand, housing performance has been fairly good in South India. According to Magicbricks‘s Prop Index Report for Q4 2019, South Indian cities of Chennai, Bengaluru and Hyderabad have emerged as the best performing market for 2019.

This approach has been in direct contrast to markets like Delhi NCR and Mumbai, where the developers are facing the challenge of huge inventory pile up, contrary to the situation in South India.

As per a recent report, Bangalore and Hyderabad should be Asia’s fastest and third fastest-growing cities, respectively, over 2020-24. Bangalore should also achieve average annual real GDP growth of 9.9% over 2020-2024 – far above aggregate growth for India of 6.8% and average growth for Asian cities of 3.9% over the same period. Hence, this situation should support demand for investment in property in South India. There are a few key factors outlining why South India has become the preferred destination for real estate in recent times.

Presence of robust infrastructure:

Public transport and connectivity are good in the Southern cities and are being made robust further through multiple infrastructure projects. Metro connectivity will completely transform the way people travel, and being pollution-free, it will change the real estate dynamics positively. In Bangalore, the planned key developments are the

completion of the metro with lines covering Whitefield, Bidadi, Bangalore International Airport and Bannerghatta region. A vast suburban rail system has also been planned around Bangalore apart from the construction of the Peripheral Ring Road. Similarly, a 3-deck elevated corridor is all set to give Chennai’s Old Mahabalipuram Road (OMR) a makeover as the government is planning a multi-deck elevated transport corridor under two phases to decongest the IT Expressway. The developments have compelled many residents to relocate from old residential zones to the new residential hotspots like OMR and ECR in Chennai.

Strong IT and Start-up growth:

The astounding growth of the information technology industry, multinationals and public industries in Southern India is to be taken note of. Southern India, especially cities like Bangalore, Chennai and Hyderabad have emerged as the main arm of the outsourcing business for the US, UK and Europe. With more foreign investors looking to establish their IT back offices in the prime locations of South India, the scope for corporate real estate is immensely high. Start-ups too have emerged very strongly in this region with Bangalore becoming the start-up capital of India. Bangalore, Chennai and Hyderabad are among top 10 cities for start-ups in the country, which now has over 20,000 registered start-ups.

Availability of land at reasonable pricing:

The vast availability of land at reasonable prices in the Southern metros as compared to Mumbai and Delhi has led to higher demand for luxury housing. The presence of a high number of urban professionals both from within the cities and due to high migration from other cities seeking enhanced prospects has created a major demand for luxury housing in Southern India.

Housing demand across segments:

South India also has a mixed housing development ranging from high-rises to luxury townships that offer access to world-class amenities in a location. The new developments have transformed the skyline of South India with reputed developers initiating landmark projects in metros like Bangalore and Chennai.

High retail growth:

Metros in South India have also seen a sharp rise in retail and commercial growth. A slew of supermarkets, malls and leading retail chains has emerged to cater to the rising demand. Millennial have been the driving force behind this change as they seek a superior lifestyle. To cater to their pristine tastes, international and premium Indian brands among others have made their presence felt in the South.

Social infrastructure:

South India has always been at the forefront of health and education. Some of the biggest brands in healthcare, and the numerous colleges and universities of repute have their presence in Bangalore, Chennai and Hyderabad. Millennial and their families have been attracted to these cities due to the availability of a wide choice.

Increased Demand from NRIs:

Owing to the vast presence of physical and social infrastructure, the on-time completion of real estate projects and good track record of developers, NRIs are attracted to invest in South India. The overall NRI investment in the primary real estate market in India is estimated to grow to nearly $25 billion by 2022 and a good portion of this is expected to be invested in South India. Quick and high capital appreciation too makes the region an attractive destination for real estate investment. Also, the rupee hovers at levels that inspire NRIs to stick with their investment.

In conclusion, it can be said that South Indian cities like Bangalore, Chennai and Hyderabad are growing at a fast pace with specific micro-markets like Hebbal and Bannerghatta in Bangalore, OMR in Chennai and Shankarapally in Hyderabad performing very well. Real estate houses have immense opportunities in the South to turn people’s dreams into reality and investment into wealth. They are creating the scope of civil engineering in the private sector as well as government sector. A conducive investment climate, the presence of a dynamic professional class, a well-developed corporate ecosystem, and the rapid rise of co-working spaces have all brought sheen to real estate in South India which will experience further boom in the coming years. The next few years look promising for the real estate industry in South India, especially for those firms who have the expertise to add value and capitalize on these opportunities.

April 20, 2020

A DAY IN THE LIFE OF MARINE ENGINEER

Marine engineers onboard the ship monitor the performance of all the machinery and equipment and carry out maintenance as per plan. Normally a ship may have four to five engineers or sometimes more, and each of them has their work schedule and responsibility clearly split out. All the engineers are under the supervision of the Chief Engineer, who ensures the safe operation of the machinery, the safety of personnel under him, and environmental protection. Marine engineers also carry out periodic performance evaluation of ships’ machinery and gather information for maintenance or an upcoming retrofit.

Offshore jobs for Marine Engineers may include spending time on the oil rigs to supervise maintenance or repair efforts involving the rig’s mechanical systems.

Based on the performance specifications of the vessel, marine engineers plan and operate the propulsion system to deliver the power required at maximum efficiency. They also operate the steering system, heating, cooling, and ventilation systems and hydraulics for the ship. If the nature of the job calls for a modification of the existing arrangement, design, or retrofit, the marine engineer views and suggestions are well considered by the designers.

Once marine engineers know what equipment is to be installed and where each duct, machine, and power source is to be located, they prepare detailed plans. They create layouts and schematics, determine the work schedule, and prepare a cost estimate for approval by management.

As the work progresses, marine engineers may conduct periodic inspections or tests to catch any issues as soon as possible. They ensure that design specifications are being followed, monitor the project budget, and prepare status reports for clients or managers. They also have the additional responsibility to ensure that the systems and machinery confer to the marine standards and specifications, which are well defined and accepted by all maritime nations.

WHERE DO MARINE ENGINEERS WORK?

As seagoing vessels are used in various industries, a marine engineer can take his or her own pick about where they will work. Such as:-

Navy vessels where you can combine your naval career with your technical qualifications.
Manufacturers of shipping equipment.
Oil industries.

While they can work on vessels, there are shore job opportunities as well, such as –

Hotels that incorporate sea vessels in their services.
Government organizations.
Shipping companies.
Maritime Training Institutes.
Marine Engineering firms.
Ship & Boat Building Industries.

MARINE ENGINEERING JOB PROFILES

According to reports, the employment of marine engineers and naval architects is expected to grow 12% from the year 2016 to 2026, faster than the average for all occupations. Marine engineers land jobs in Shipping firms, Indian Navy, Shipyards, Engine manufacturing companies, Shipbuilding firms, Ship design firms, Maritime universities, Research Institutions, etc.

CAREER ADVANCEMENT OPPORTUNITIES IN MARINE ENGINEERING

Marine engineers can advance into supervisory or management positions with experience. Typically, the USCG licenses can help marine engineers move up; as the level of license increases, responsibilities usually increase. Some marine engineers move into sales, using their technical knowledge to help clients plan and execute projects.

MARINE ENGINEERING ASSOCIATIONS

Compared to some other engineering fields, Marine Engineering is a small and highly focused profession. However, there are opportunities for robust professional development and camaraderie.

Probably the largest international group in this field is the Society of Naval Architects and Marine Engineers. With membership around 8500, this organization is focused on its stated mission “to advance the art, science, and practice of naval architecture, shipbuilding, and marine engineering. India has an organization called “The Institute of Marine Engineers (INDIA)“ which helps in promoting knowledge and building relationships.

April 20, 2020April 20, 2020

SCOPE AND CAREER OPPORTUNITY IN MARINE ENGINEERING

Read this article to get a complete understanding of what Marine engineering is and how it is an excellent career option!

MARINE ENGINEERING

Marine engineering is a branch of engineering that deals with the operation and maintenance of several equipment onboard ships. The primary job of a Marine engineer onboard of the ship is:

– To ensure the safety of the ship.

– To ensure the safety of the people onboard.

– To check the safe transportation of cargo.

– To consider environmental protection.

Hence a marine engineer should be competent enough to maintain and operate all the types of machinery without exception onboard of the ship.

Marine Engineers are employable on foreign going and coastal trade ships of various types like Cargo ship, container ship, Oil & Chemical tankers, Car Carrier, LPG & LNG carriers, Off-shore vessels, Passenger ships, etc.

SCOPE OF DOING MARINE ENGINEERING

Marine engineering as a profession gives the scope for using theoretical knowledge into practice, which in turn provides fulfillment and job satisfaction. Let’s have a look at some of its’ benefits:

*A talented person joining this field at the age of around 22 – 24 years, can easily become a Chief Engineer of a ship in the shortest possible time (within 6 to 8 years).

*A medically fit marine engineer can continue to sail up to 70 years.

*Quick promotion to higher ranks in the sailing career is possible, as it depends only on passing the competency examinations along with associated skills possessed and not based on seniority or age.

*Intermittent short time sailing contracts are also possible as per the individual requirement to meet domestic personal commitments.

*Marine engineers are also employable in the Off-shore vessels, Oil platforms. Alternatively, shore-based careers can also be chosen in the Shipbuilding industry, Hospitality industry, Maritime education, Ports & Marine specific government jobs, etc.

BECOMING A MARINE ENGINEER

Pursuing a bachelor’s degree in Marine Engineering from a reputed, well known, and the well-graded institute has many advantages both during the sea career and later when the candidate opts for a shore job after quitting the seagoing job. Many public and private colleges offer undergraduate degrees in Marine Engineering, but some schools specialize in this particular arena. Marine Engineers are thoroughly involved in the design and operation of shipboard mechanical, thermal, hydraulics, electrical, electronics, and environmental systems as well as power plants. The sea career enables one to get a sound practical knowledge of all machinery and equipment, and also provides considerable confidence to face and solve the problems.

Moving on to a Master’s Degree in Marine Engineering will often encompass a broader area of study, including Naval Architecture. Naval Architecture involves the overall structural design of ships and other vessels.

Further higher studies like Doctor of Philosophy (Ph.D.) in the associated fields are also possible.

After years of experience at sea, finding a career in shore-based industries for marine engineers is very easy. The Multinational Companies would honor the inherited personal attributes like leadership, dedication, commitment to the company, and international exposure, etc.

IS MARINE ENGINEERING THE RIGHT CAREER FOR YOU?

Pursuing an engineering degree is a serious commitment and should not be taken lightly. Like any other engineering field, Marine Engineering requires a strong background in Mathematics, Physics, and Chemistry.

Marine Industry is one of the highest-paid industries globally and also offers faster career growth for competent professionals. Maritime Labour Conventions ensures the welfare and rights of seafarers worldwide. International cuisine is provided onboard the ship. Exploring the world is a gift to the seafarers, which comes in addition to their development of global professional expertise.

WHY STUDY MARINE ENGINEERING AT SVCE?

SVCE is the first engineering college in India to get approval by the Directorate General of Shipping, Ministry of Shipping, and Government of India to start the four-year program in the B.E. Marine Engineering course in the year 1998. The degree is awarded by the well-known “ANNA University” Chennai.
The program is consistently graded as “VERY GOOD” by DGS (Directorate General of Shipping, Ministry of Shipping, and Govt. Of India) authorized agencies during annual CIP (Comprehensive Inspection Program).
STCW Courses (Standards for Training Certification and Watch-keeping) are arranged at renowned maritime training institute HIMT, Chennai.
The department assists in getting all mandatory government documents like CDC (Continuous Discharge Certificate), INDoS Number (Indian National Database of Seafarers), Training Manual, TAR Book (Training and Assessment Record), COC (Certificate of Competency) – Class IV Part A Exemption, SID (Seafarers Identity Document) and Onboard TAR Book.
Limited intake helps individual attention to train with the correct attitude and frame of mind for a sea career.
The Six Month Afloat Training at Cochin Shipyard Limited, Kochi, to give a rich practical experience onboard a variety of ships.
Well, experienced Marine Chief Engineers and faculty members who not just deliver career guidance for marine engineering but also share their expertise to enhance the teaching-learning process.
Dedicated placement cell with excellent placement record, even during hard times.
The students after graduation will be able to join as Trainee marine engineers on board the ship.
Excellent Infrastructure, Workshops, and Laboratories support academics to an exceptional extent.
The classrooms are equipped with modern teaching aids.
As this program is offered in an engineering college, students get the best blend of knowledge and practical exposure. Subjects are taught by experts in the respective field.

April 20, 2020April 20, 2020

PROSPECT OF MARITIME IN SHIPMENT AND LOGISTICS SECTOR / SCOPE OF MARITIME IN SHIPMENT AND LOGISTICS SECTOR

How many of us know that the prospect of marine engineers greatly depends on the Shipping and Logistics sector?

In order to understand this, one needs to know the logistics market better.

SHIPPING AND LOGISTICS SECTOR

Shipping Industry is very crucial and extensive for the development of any country.

The economy based on sea trade is aptly termed as “Blue Economy.”

According to the Ministry of Shipping, around 95 percent of India’s trading by volume and 70 percent by value is done through the transport services for the maritime industry. India has 12 major, and 205 notified minor and intermediate ports. Under the National Perspective Plan for Sagarmala, six new mega ports will be developed in the country.

The Indian ports and shipping industry plays a vital role in sustaining growth in the country’s trade and commerce. India is the sixteenth largest maritime country in the world, with a coastline of about 7,517 km. The Indian Government plays a vital role in supporting the ports sector. It has allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route for port and harbor construction and maintenance projects. It has also facilitated a 10-year tax holiday to enterprises that develop, maintain, and operate ports, inland waterways, and inland ports.

SHIPPING LOGISTICS MARKET SIZE

During the Financial Year (FY) 2019-20, cargo traffic at major ports in the country was reported at 699.05 million tonnes (MT). Cargo traffic handled stood at 463.07 MT in 2019 (till November 2019). Cargo traffic at non-major ports was estimated at 529.6 MT during FY 2018-19 and grew at 10 percent CAGR between FY 2017-18 and reached 281.0 million tonnes in FY 2018-19 (up to Sep 18). The major ports had a capacity of 1,514.09. MT per annum by FY 2019-20 (partial). The Maritime Agenda 2010-20 has a 2020 target of 3,130 MT of port capacity. The government has taken several measures to improve operational efficiency through mechanization, deepening the draft, and speedy evacuations.

INVESTMENTS/ DEVELOPMENTS

In November 2019, JSW Infrastructure commissioned a new iron ore terminal at the Paradip port in Odisha with a capacity to handle up to 18 million tonnes of cargo per annum.
In November 2019, the first-ever movement of container cargo on Brahmaputra (National Waterway -2), focused on improving the connectivity to the North-Eastern Region (NER).
In October 2019, Ease of Doing Business-Implementation of Radio Frequency Identification (RFID) based Port Access Control System (PACS) at Kolkata Dock System (KDS) was introduced.
JSW Infrastructure entered into a built, operate and transfer agreement with Paradip Port Trust at an investment of Rs 750 crore (US$107.31 million) to operate Paradip port.
In August 2019, India became the first country in the world to issue Biometric Seafarer Identity Document (BSID), capturing the facial biometric data of seafarers.
Adani Ports and Special Economic Zone (APSEZ) became the first Indian port operator to handle cargo movement of 200 million tonnes (MT) in 2018-19.
Essar Ports will invest US$70 million in Hazira port by 2020.
The current Honourable Minister for Shipping, Road Transport and Highways, Government of India, has announced a massive investment in India’s ports and roads sector, which is likely to help boost the country’s economy. The Indian government plans to develop 10 coastal economic regions as part of plans to revive the country’s Sagarmala (string of ports) project.
The zones would be converted into manufacturing hubs, supported by port modernization projects, and could span 300–500 km of the coastline. The government is also looking to develop the inland waterway sector as an alternative to road and rail routes to transport goods to the nation’s ports and hopes to attract private investment within the sector.
The Ports sector in India has received a cumulative FDI of US$1.64 billion between April 2000 and March 2019.
Indian ports and shipping sector witnessed three M&A deals worth US$29 million in 2017.

GOVERNMENT INITIATIVES

Some major initiatives taken by the government to promote the ports sector in India are as follows:

As of November 2019, several projects with a total project cost of Rs 13,308.41 crore (US$1.90 billion) have been awarded in the last three years on up-gradation of the major ports.
As of Union Budget 2019-20, the total allocation for the Ministry of Shipping is Rs 1,902.56 crore (US$272.22 million).
Net profit at major ports has increased from Rs 1,150 crore (US$178.4 million) in FY13 to Rs 3,413 crore (US$529.6 million) in FY18 while operating margin increased from 23 percent to 44 percent.
In May 2018, the Ministry of Shipping allowed foreign-flagged ships to carry containers for transshipment.
In March 2018, a revised Model Concession Agreement (MCA) was approved to make port projects more investor-friendly and make the investment climate in the sector more attractive.

ROAD AHEAD

Increasing investments and cargo traffic points towards a healthy outlook for the Indian ports sector. Providers of services such as operation and maintenance (O&M), pilotage and harbouring, and marine assets such as barges and dredges are benefiting from these investments.
The capacity addition at ports is expected to grow at a CAGR of 5-6 percent till 2022, thereby adding 275-325 MT of capacity.
Under the Sagarmala Programme, the government has envisioned a total of 189 projects for the modernization of ports involving an investment of Rs 1.42 trillion (US$22 billion) by the year 2035.
The Ministry of Shipping has set a target capacity of over 3,130 MMT by 2020, which would be driven by participation from the private sector. Non-major ports are expected to generate over 50 percent of this capacity.
India’s cargo traffic handled by ports is expected to reach 1,695 million metric tonnes by 2021-22, according to a report of the National Transport Development Policy Committee.
Within the ports sector, projects worth an investment of US$10 billion have been identified and will be awarded over the coming five years.

April 8, 2020May 16, 2020