Open AccessSagarmala: A Beacon of Development in the Maritime Horizon of India
Author(s) -
Cyril C. George,
J. Rengamani
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.b1831.078219
Subject(s) - port (circuit theory) , european union , international trade , business , economy , export trade , agricultural economics , geography , economics , china , engineering , archaeology , electrical engineering
India being one of the fastest growing economies in the world, the vital transport system is under pressure and challenges which are to be addressed on a long time perspective. The Maritime Sector has a greater role to play for the overall economic development of the country. Though Indian Ports handle about 95% of EXIM Trade volume, the proportion of merchandize trade in GDP is only 42%, when Germany’s share is 75% and European Union 70%. With new policy initiatives like Make in India programme, the share of merchandize trade in India’s GDP is set to increase considerably. The major role of India’s transportation system is movement of bulk commodities. The thermal coal alone constitutes about 60% of the freight volume on Indian Railways and 24% of Sea Port freight mix. Coal, POL, iron ore, fertilizers and container constitute 80% of the total export import freight movement across the country. The study aims to highlight the Sagarmala Project with regard to Maritime Horizon in India.