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India Gazette
7 days ago
- Business
- India Gazette
Sarbananda Sonowal holds talks with Japan's Vice Minister Terada Yoshimichi in Oslo
Oslo [Norway], June 2 (ANI): Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal held a bilateral meeting with Terada Yoshimichi, Japan's Vice Minister for International Affairs, and the Ministry of Land, Infrastructure, Transport and Tourism (MLITT) in Oslo on Monday, according to a satement from Ministry of Ports and Shipping. With a goal to deepen the maritime relations between the two countries, the meeting entailed discussions on multiple areas including investment by Japanese Shipyards, collaboration on port digitisation and green port initiatives, increase in R and D cooperation, upskilling human resources, employment of Indian seafarers in Japan among others. Both the ministers also discussed about using sustainable technologies, disaster-resilient infrastructure, and enhanced connectivity to enable Andaman Nicobar islands and Lakswadeep islands to be converted into Smart Islands, as per the Ministry of Ports and Shipping. Acknowledging the rich expertise of Japan in developing island territories, Sarbananda Sonowal said, 'Japan's expertise in this area is highly valued. We see scope for joint work in the Andaman and Nicobar and Lakshadweep islands, particularly in deploying renewable energy, smart mobility systems, and digital infrastructure. 'These initiatives will further our shared commitment to ecological conservation and regional maritime security.' he added The meeting also discussed about increasing partnership between Indian and Japanese shipyards including Greenfield investment such as Imabari Shipbuilding in Andhra Pradesh and others. Opportunities for co-development of ports and maritime industrial clusters as clean energy hubs were also gauged for mutual cooperation. Sonowal expressed India's interest in leading Japanese shipbuilding companies such as Imabari Shipbuilding, JMUC, Kanagawa Dockyard, and Mitsubishi Heavy Industries to explore joint ventures and collaborative arrangements with Indian yards. 'Japan's expertise in shipbuilding and ship repair is well recognised, and I see great scope for collaboration in this area. We also invite Japan's Big Three maritime companies--NYK Line, MOL, and K Line--to explore joint ventures and investment opportunities in India's growing maritime sector,' he added. The Union Minister further added that With our strong bilateral relationship, India's growing maritime industry present a unique opportunity for Japanese shipyards to invest in India in shipbuilding. Collaboration on port digitisation and green port initiatives will further strengthen the resilience and sustainability of our maritime logistics network,' said Shipping Minister, Sarbananda Sonowal. Speaking on the occasion, the Union Minister Sonowal said, 'Relations between India and Japan have a long history rooted in spiritual affinity and strong cultural and civilisational ties. Our collaboration under the Quad framework and the India-Japan-Australia Supply Chain Resilience Initiative (SCRI) reflects our shared commitment to strengthening regional maritime security and economic integration. ' India appreciates Japan's leadership in key initiatives such as the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI), and the Leadership Group for Industry Transition (LeadIT). As India moves ahead to transform its maritime sector under the visionary leadership of Prime Minister Narendra Modi ji, India is advancing port infrastructure, green shipping, shipbuilding, and digitalisation under 'Maritime India Vision 2030' and 'Maritime Amrit Kaal Vision 2047. India seeks Japan's participation in these transformative initiatives.' Ministry of Ports and Shipping stated. Japan's Vice Minister of Land, Infrastructure, Transport and Tourism (MLIT) Terada Yoshimichi expressed that India and Japan have very intimate relationship. Japan has been engaged in railway infrastructure development with India but now 'very interested in maritime sector'. Prospects of mutual collaboration in shipbuilding and training of seafarers were discussed and considered positively. He expressed satisfaction over the meeting. 'Emphasising the need to deepen bilateral ties in maritime training and development, as well as cooperation in research and development, both sides agreed to further strengthen collaboration in the maritime sector, especially on sustainable maritime technologies and next-generation ship design. Sonowal evinced India's interest for a MoU for a framework to avail promising avenues for collaboration with Cochin Shipyard Limited (CSL), Indian universities, and public agencies. On upskilling and employment of India's human capital, Sarbananda Sonowal said, 'India currently has over 154,000 trained seafarers which is capable of support and supplement Japan's maritime workforce. In order to build capacity with rich maritime knowledge of Japanese maritime sector, we see a great opportunity for Japan's maritime leaders in training, upskilling, and employing Indian seafarers, strengthening the cornerstone of our maritime cooperation. India is ready and keen to facilitate Japanese maritime player's interest in training Indian engineers and workers through structured programmes.' India is developing the National Maritime Heritage Museum (NMHC) at Lothal in Gujarat. It aims to showcase India's rich maritime history and legacy. It also serves as a world-class centre for heritage tourism, education, and research in the maritime sector. Sarbananda Sonowal shared India's interest to have Japan as a partner for this project. The Minister hoped to close the MoU in this regard soon. He also extended invitation to Vice Minister Terada Yoshimichi for participation at the India Maritime Week, 2025 in Mumbai between 27th and 31st October this year. This major event will bring together key stakeholders from the global maritime community to discuss and facilitate exploration of opportunities for investment, collaboration, innovation, and growth in the maritime sector. Post meeting Sarbananda Sonowal said, 'The strong & deep Indo Japanese ties are rooted in mutual trust and shared values -- democracy, freedom, and civilisational connection. Today's discussions with Vice Minister Terada Yoshimichi, paved the way to elevate our maritime cooperation further. Japan is one of India's most trusted investors. We deeply value this relationship. Under PM Narendra Modi ji's leadership, India aims to scale new heights with a target of five trillion yen (Rs.3.2 lakh crore) in investments with Japan by 2027. India will work closely with Japan toward a sustainable future, guided by our shared vision of advanced maritime cooperation that contributes meaningfully to global progress & mutual benefit for both countries.'he added The meeting was also attended by Onishi Yasushi, Maritime Bureau, MLIT, Hioki Miki, Maritime Bureau, MLIT, Ihara Takumar, First Secretary, Embassy of Japan in Norway & Kimura Hiroko along with Terada Yoshimichi. The Union Minister was joined by Dr Acquino Vimal, Ambassador of India to Norway, Venkatesapathy S, Joint secretary (Shipping), MoPSW; Mandeep Singh Randhawa, Director (MA&MT), Puneet Agarwal, Additional Secretary & Financial Advisor, MoPSW, Madhu S Nair, CMD, Cochin Shipyard Limited, Amit Kumar, IAS, Private Secretary, MoPSW among other officials. (ANI)
Hans India
13-05-2025
- Business
- Hans India
Cargo handled by India's major ports surges to record 855 million tonnes in FY25
New Delhi: The country's major ports registered an impressive growth in cargo handling to touch a record 855 million tonnes in FY 2024-25, which represents a 4.3 per cent increase compared to the corresponding figure of 819 million tonnes in FY 2023-24, the government said on Tuesday. The increase in traffic was driven by higher container throughput (10 per cent), fertiliser cargo handling (13 per cent), POL (petroleum, oil and lubricants) (3 per cent), and handling of miscellaneous commodities (31 per cent) compared to the previous fiscal year, said the Ministry of Ports and Shipping. Among commodities handled at major ports, POL led the charts with a volume of 254.5 million tonnes (29.8 per cent), followed by container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent) and other cargo categories such as iron ore, pellets, fertilisers, and more in FY 2024-25. For the first time in the history of major ports -- the Paradip Port Authority (PPA) and Deendayal Port Authority (DPA) -- surpassed the 150-million-tonne cargo handling mark, reinforcing their status as key hubs of maritime trade and operational excellence. Meanwhile, Jawaharlal Nehru Port Authority (JNPA) set a record by handling 7.3 million TEUs, reflecting a 13.5 per cent year-on-year growth. Indian ports collectively allocated 962 acres of land for port-led industrialisation, projected to generate an income of Rs 7,565 crore in FY 2024-25. Furthermore, lessees are expected to make future investments of Rs 68,780 crore on the allotted land, reaffirming investor confidence in port-led development. Private sector participation has been instrumental in this transformation, with investments in PPP projects at major ports increasing threefold, from Rs 1,329 crore in FY 2022-23 to Rs 3,986 crore in FY 2024-25, highlighting strong investor confidence. Operational performance continued to improve in FY 2024-25, with Pre-Berthing Detention (PBD) Time (on port account) improving by about 36 per cent compared to FY 2023-24. Financially, major ports witnessed an 8 per cent increase in total income in FY 2024-25, rising to Rs 24,203 crore from Rs 22,468 crore in FY 2023-24. Similarly, operating surplus grew 7 per cent to Rs 12,314 crore in FY 2024-25 from Rs 11,512 crore in FY 2023-24. Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, said, "The ministry has worked tirelessly to modernize port infrastructure, enhance operational efficiency, and foster private sector participation, paving the way for unprecedented growth in India's maritime sector". "From record-breaking cargo handling to significant improvements in operational parameters and financial performance, the achievements of FY 2024-25 reflect the resilience and readiness of our ports to support India's growing trade ambitions," he added. Between FY 2014-15 and FY 2024-25, cargo volumes surged from 581 million tonnes to approximately 855 million tonnes, reflecting a robust Compound Annual Growth Rate (CAGR) of 4 per cent. Major ports' financial performance has been equally impressive, with total income more than doubling over the past decade from Rs 11,760 crore in FY 2014-15 to Rs 24,203 crore in FY 2024-25, registering a 7.5 per cent CAGR over 10 years.
