Shipping container throughput at major ports in India grew 1.2% year-over-year from April through September, the first six months of the Indian Ports Association’s fiscal 2012-13.
Numerically speaking, cumulative traffic in the first fiscal half was an estimated 3.94 million 20-foot-equivalent units compared with 3.89 million TEUs in the corresponding months last year. The tonnage of containerized traffic increased 2.65 percent year-over-year to 60.9 million tons from 59.3 million tons.
India’s experienced growth as the ‘I’ of the emerged BRICs. Now there’s evidence of Big Growth, world power-type economic expansion.
The opening of India to international business investment on majority ownership scale in September was the expansive sign. Their motivation’s fiscally-driven: the country’s economy lost 67% of foreign direct investment in 2011, and is trending in that direction this year. Prime Minister Manmohan Singh summarized the decision, “I believe that these steps will help strengthen our growth process and generate employment in these difficult times.” Opportunity observed and optimized.
India’s a land of a billion consumers, rapidly expanding its B2B & B2C commercial infrastructure. If your organization isn’t currently involved in the market, you may be soon, directly or indirectly. As you make supply chain adjustments to suit, consult Data2Logistics for carrier’s route and pricing options, along with freight bill auditing for accuracy and convenient payment services, all for your shipping cost-savings as your India inroads increase.
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