The Ministry of Ports, Shipping and Waterways has given sanction to Adani’s Vizhinjam Port in Kerala to operate as a India's 1st transshipment port.
National
The Ministry of Ports, Shipping and Waterways has given sanction to Adani’s Vizhinjam Port in Kerala to operate as a India's 1st transshipment port. A transshipment port is a crucial hub where cargo is transferred from one big vessel to several smaller ones before they reach the final port of discharge. It will now help India in its ambition to become a manufacturing hub. The proposal to designate it as a customs-notified port has also been made. Current regulations require the shipping ministry’s nod to prevent competing projects from being permitted before capacity at operational ports is saturated. This approval paves the way for customs to set up an office at Vizhinjam port. It will be India’s first full-fledged deep water transshipment port. A final nod from the Central Board of Indirect Taxes and Customs (CBIC) is expected in the coming 3 months.
Approximately 75 percent of India’s transshipment cargo is currently processed at ports overseas, with destinations such as Colombo, Singapore, and Klang handling about 85 percent of this cargo.
The project aims to capture a portion of the Indian cargo market, which amounts to over a million containers transshipped annually through foreign ports like those in Colombo, Sri Lanka.
Ministry of Ports, Shipping and Waterways
Union Minister- Sarbananda Sonowal
Minister of State- Shripad Naik
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