India, being one of the largest peninsular country in the world, is blessed with a coastline of 7517 kilometres and hence Ports play an important role in handling traffic of trade. India’s 13 major and 187 non major ports cater to coastal and overseas trade. This includes handling more than 90% of Indian trade in terms of volume. The major ports are under the administration of the Central Government, whereas State Governments take charge of the jurisdiction of the minor ports. With a growth of around 6% CAGR in the last half decade, resulting in the congestion of the major ports, a considerable amount of trade traffic has been shifted to the minor ports. Major ports of India Note: 1) *: As on March, 2013 2) Kolkata and Haldia port are managed …show more content…
This initiative results in ports becoming the drivers of economic activity in Coastal areas and thereby contributing to GDP. The key components of Sagar Mala project are: • Focus on modernization of port infrastructure, transforming the existing ports to world class ports and development of new ports. • Improve hinterland linkages through efficient rail, road and water (coastal and inland waterways) networks for efficient evacuations. • Engender port led development by promoting port based SEZS, ancillary industries like ship building, Warehousing, Tourism and Waterborne Transport. This initiative provides a huge potential of growth for port infrastructure companies as this drastically improves and changes the entire ports industry by increased traffic, increased capacity and linkages and by creating Coastal Economic Zones. Industry …show more content…
Ports are the economic multipliers as they help in the development of side-by industries like fishing, aqua culture, ship repairs and dredging activities. The conglomeration of these related activities augments the productivity of industries which helps in reducing costs in movement and also paving the way for technological innovation. Ports are gateways for imports and exports as well. The growth in Port sector will contribute to the growth of GDP (Gross Domestic Product) of India. The “Sagar Mala” and the NMDP (National Maritime Development Program) are some of the strategic initiatives aimed at increasing the investments cycle in Ports sector and hence creating economic opportunity. Social Factors Ports and Harbours provide direct or indirect employment to the people, especially to those living in the nearby regions of ports. City, regional and central Government sometimes receive income from ports and harbours. CSR activities by companies contribute to the development of societies as
Sase, J. F., and Gerard Senick. "Legal News Expert Witness column." The Great Lakes Freight Gateway: $11 Billion in New Economic Activity and 150,000 New Jobs. November 2011. Print.
"Economic Development. (From the Library)." Government Finance Review 17.6 (Dec 2001): 58(1). General OneFile. Gale. Apollo Library. 19 May 2008 ..
Apart from manufacturing and technology, San Diego’s has been heavily involved in naval and military operations right from the Second World War. Today, it possesses the largest naval fleet in the world. Inviting millions of tourists to its shores every year, tourism is another major industry for the economy. The added advantage of its proximity
...ed third amongst all Indian Major Ports of handling container traffic. The dock at Kolkata Dock System is one of the fastest growing in Conatiner Traffic amongst the Major Ports of India.
dock as a place for the trade their goods, look at the map below to
Even though there are money strength Port Everglades have when it comes to business there are still a few weaknesses the company has. For example, to be able to do all of the projects the employers are planning on doing on the Harbor is going to cost about $374 million. To gain the money for the project the money would be collected from port use fees, federal and state grant (port everglades deepening, 2015). Which is money the federal and state could of gave to a small business or to use fix other problems that maybe occurring in the county. When it comes to their Cruise the Port there are a few flaws the some of the passengers who went on their vacation with their family on Port Everglade had encounter during their trip. For example, one
Norther Brazil or costal city’s serving as ports for the exporting of commodities produced on the
In Terminals, we are focused on boosting productivity and capacity in areas targeted by our Container Shipping business.
The other opportunity is the technological advances the company was upgrading their ships and more importantly were working on building new ones that will be ready to set sail in 2014. In addition, the technology has increased the cruise travel. Gives the technology to enhance the activities within the cruise.
Container shipping industry is kind of international trade and destined restricted by los of regulation, such as ocean environment law, nation’s imports & exports law.
...itionally, the government as part of the rebuilding efforts that have been taking place should invest in infrastructure, speeding up implementation of plans for a regional airport, highways, and harbors that would offer much needed benefits to fishermen working along the southern coast Arunatilake, et al., 2014, p. 29).
In logistic industry, they have been through lots of challenge in worldwide market. As the containerization of the global economy scopes, a phase of development and explanation, ports find themselves inserted in ever changing commercial environment where logistics is the forefront. Thus, this industry reaches a phase of maturity and rationalization due to the process of logistic on land.
Maritime shipping has become one of the most important ways of commercial transport with the new markets and the increase into the world economies. At present more than 80% of world trade is conducted by sea . The Pacific historically has been one of the most active maritime trading grounds. Linking the American and Asian continents the majority of the world’s shipping passes through the seas of Southeast Asia, East Asia, and South Asia.
Economic development is fundamentally about enhancing the factors of productive capacity, such as land, labor, capital, and technology, of a national, state, or local economy, as stated by the U.S. Economic Development Administration. Economic development influences growth and restructuring of an economy to enhance economic well-being. We experience economic growth when our standard of living is rising. Rather than being a simplistic process, economic development typically is a range of influences aimed at achieving objectives like creating jobs and wealth and improving the quality of life. It incorporates coordinated initiatives targeted at expanding infrastructure and increasing the volume and/or quality of goods and services produced by a community. A common measure of economic development is a country’s gross national ...
At the present time, one of the inseparable parts of the economic growth is considered as tourism industry. Commonly, tourism is the movement of people to other places for business or leisure purposes as well as covers their activities. Holloway and Humphreys defines that the places where tourists come and spend their money are called as “tourist destinations” in other words “receiving areas”. Many countries have been improving tourism to overcome economic difficulties since it is growing fast. The industry activities have been demonstrated a general positive trend in the economy and it has already become the inherent part of economic development. In host countries, tourism has led to such positive consequences as the improved infrastructure,