India’s Port Capacity Must Double Twice by 2047 to Support Growth: Goyal

Commerce and Industry Minister Piyush Goyal on Sunday said Indian customs authorities and officials at the Port of Rotterdam are working together to digitalise cargo processes in India, with the aim of speeding up cargo evacuation and reducing ship turnaround times.

Speaking to reporters after visiting the port and meeting its Chief Executive Officer Boudewijn Siemons, Goyal emphasised the need to expand India's port infrastructure to accommodate rising trade volumes and economic growth.

"Despite doubling our port capacity over the past decade, India still needs more capacity," he said, adding that the country's port capacity is expected to double twice over the next two decades to support its economic ambitions and international trade requirements by 2047.

The proposed digitalisation initiative aims to introduce modern operational standards, improve logistics efficiency and facilitate faster movement of goods through Indian ports. Goyal also highlighted the potential of the India-European Union Free Trade Agreement to create significant business opportunities and boost trade between the two sides.

Rotterdam, Europe's largest port, serves as a major gateway for Indian goods entering European markets and plays a crucial role in international trade and global supply chains.

The minister said the Netherlands' advanced port infrastructure, logistics capabilities and connectivity with European markets could help Indian exporters take advantage of new opportunities arising from the trade agreement. Improved port efficiency and stronger logistics links would also support increased trade flows and reinforce India-Europe supply chains.

During his address to the Indian community in Amsterdam, Goyal encouraged professionals and academicians to collaborate with Indian institutions and contribute to the development of start-ups through mentoring and knowledge-sharing initiatives.

He also called on young people to remain responsible and committed to the societies and countries that provide them with employment and livelihoods.