The Asian Age - - Business - AGE COR­RE­SPON­DENT MUM­BAI, FEB 13

With China emerg­ing as In­dia’s dom­i­nant trad­ing part­ner, along with other coun­tries in the East, the for­tunes of the non-ma­jor ports on the East coast soared to at­tract a ro­bust 43 per cent in­crease in to­tal traf­fic in FY16 up from 10 per cent over a pe­riod of 10 years, re­flect­ing a huge shift in trade.

China’s im­ports in 2015 were 7.9 per cent and ex­ports 1.8 per cent.

In­dia can save $30 bil­lion by mov­ing part of trade closer to ports by 2020, ac­cord­ing to a re­search re­port on In­dia’s mar­itime sec­tor by Ernst & Young (EY) in as­so­ci­a­tion with Andhra Pradesh Cham­bers of Com­merce and In­dus­try Fed­er­a­tion.

The se­ries of mea­sures by the gov­ern­ment like the Sa­gar­mala ini­tia­tive, can save the coun­try up to $28 bil­lion in in­fras­truc­ture in­vest­ment and another $3.3 bil­lion in trans­porta­tion cost if 50 per cent of over­all trade moves closer to ports by 2020.

Mr Ki­ran Malla, di­rec­tor, cor­po­rate fi­nance & strat­egy, Ernst Young In­dia said “If In­dia has to be­come a global su­per power by 2030 it has to get ready to make the next big leap in trade. The right strat­egy would be to cre­ate eco­nomic epi­cen­tres around mod­ern ports with world class in­fras­truc­ture.”

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