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Economic Times
30-07-2025
- Business
- Economic Times
Average turnaround time at Indian ports falls to less than a day: Sonowal
IANS Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal The turnaround time at Indian ports has fallen to less than a day, Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal said Thursday. Speaking at the Maritime Financing Summit 2025, the minister said India, as a maritime nation, is undergoing a transformative shift backed by policy support and rising investment momentum. 'Our ports have significantly improved operational efficiency, with the average turnaround time reduced from 4 days to less than 1 day, outperforming many advanced nations,' he said while adding container handling capacity at major ports has grown by over 70%, and cargo volumes through coastal and inland waterways have said the goal is to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure. An official statement said policy measures for supporting the domestic shipping sector were deliberated during the conference. These included recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage, providing long-term visibility on the financial incentives available in the sector, and enabling ship leasing through GIFT City IFSC.
Time of India
24-07-2025
- Business
- Time of India
Average turnaround time at Indian ports falls to less than a day: Sonowal
India's port turnaround time has dramatically improved, now under a day, surpassing many advanced nations, according to Union Minister Sarbananda Sonowal. This boost in efficiency, coupled with increased container handling capacity and cargo volumes, supports India's ambition to become a global maritime hub. Policy measures are being implemented to further bolster the domestic shipping sector and attract investment. Tired of too many ads? Remove Ads The turnaround time at Indian ports has fallen to less than a day, Union Ports , Shipping, and Waterways Minister Sarbananda Sonowal said Thursday. Speaking at the Maritime Financing Summit 2025, the minister said India, as a maritime nation, is undergoing a transformative shift backed by policy support and rising investment momentum.'Our ports have significantly improved operational efficiency, with the average turnaround time reduced from 4 days to less than 1 day, outperforming many advanced nations,' he said while adding container handling capacity at major ports has grown by over 70%, and cargo volumes through coastal and inland waterways have said the goal is to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure An official statement said policy measures for supporting the domestic shipping sector were deliberated during the conference. These included recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage, providing long-term visibility on the financial incentives available in the sector, and enabling ship leasing through GIFT City IFSC.
News18
24-07-2025
- Business
- News18
Indian ports average turnaround time reduced to less than one day: Sonowal
Last Updated: New Delhi, Jul 24 (PTI) Indian ports' average turnaround time has reduced from four days to less than one day, outperforming many advanced nations, Union Minister Sarbananda Sonowal said on Thursday. Addressing the 'Maritime Financing Summit 2025', Sonowal said India, as a maritime nation, is undergoing a transformative shift backed by strong policy support and growing investment momentum. 'Our ports have significantly improved operational efficiency, with the average turnaround time reduced from 4 days to less than 1 day, outperforming many advanced nations," the Ports, Shipping and Waterways minister said. With 100 per cent FDI permitted in shipping under the automatic route, simplified customs clearance and the strategic advantage of GIFT City IFSC, Sonowal said India now offers one of the most attractive investment ecosystems in the maritime domain. 'Our goal is clear to make India a global maritime hub not just in trade, but also in finance, shipbuilding and green maritime infrastructure," he said. According to an official statement, policy measures, like recognising large vessels as infrastructure assets, extending the Shipbuilding Financial Assistance Scheme (SBFAS) to overcome the cost disadvantage and provide a long-term visibility on the financial incentives available in the sector, were discussed at the Summit. Capital support for greenfield capacity expansion involving the creation of new shipbuilding clusters and brownfield expansion to enhance existing shipyards' capacity through a coordinated approach between the Centre and states is envisioned, it added. PTI BKS BKS BAL BAL view comments First Published: July 24, 2025, 22:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
