India is heading for a capacity crisis by 2020, claims Manish Saigal of KPMG India.
Whereas the National Maritime Agenda has forecast investment of $52bn will create a capacity of 3.2 billion tonnes by 2020, Mr Saigal stresses that, so far, only 10% of projected investment has been made.
To meet the target, 40%-50% of this investment should now have been put in place. Currently, India is looking at a deficit of 1.17bn tons.
In related news, the Indian Minister overseeing Road, Transport and Highways has conceded that port connectivity projects in many states has floundered on the inability of governments in those areas to provide encumbrance-free land.
Only three such projects - in Paradip, Visakhapatnam and Jawahar Nehru ports - have so far been completed.
