How would Vizhinjam Port save India $220 million every year?
The Indian government has made significant strides in recent years to boost its economic growth and development. One of the key initiatives in this regard is the Vizhinjam Port, inaugurated by Prime Minister Narendra Modi in Kerala on Friday. The new port is strategically located near one of the world’s busiest sea trade routes, and its inauguration is expected to bring in numerous benefits for the country. In this blog post, we will delve into the ways in which Vizhinjam Port is likely to save India $220 million every year.
The need for a trans-shipment port
Prior to the inauguration of Vizhinjam Port, India’s cargo used to be trans-shipped through areas like Sri Lanka, Singapore, and Jebel Ali in the UAE. This meant that Indian cargo had to travel long distances to reach its destination, resulting in increased costs and reduced efficiency. The lack of a trans-shipment port in India was a major bottleneck in the country’s cargo movement, and it was essential to address this issue to boost the economy.
How Vizhinjam Port will save India $220 million every year
The Vizhinjam Port is expected to save India $220 million every year by reducing the need for trans-shipment. With the new port in place, Indian cargo will no longer need to travel to other countries to be loaded onto ships. Instead, it will be able to be directly loaded onto ships from the Vizhinjam Port, reducing the distance and time taken to reach its destination.
This will not only reduce the costs associated with trans-shipment but also reduce the time taken to clear cargo. The Vizhinjam Port is equipped with state-of-the-art facilities and technology, including automated cargo handling systems and advanced cargo tracking systems. These facilities will enable faster and more efficient cargo movement, reducing the time taken to clear cargo and increasing the overall efficiency of the port.
Benefits of Vizhinjam Port
The Vizhinjam Port is expected to bring in numerous benefits for India, including:
- Reduced costs: By reducing the need for trans-shipment, the Vizhinjam Port will save India $220 million every year. This will reduce the costs associated with cargo movement and increase the competitiveness of Indian businesses.
- Increased efficiency: The Vizhinjam Port is equipped with advanced facilities and technology, which will enable faster and more efficient cargo movement. This will reduce the time taken to clear cargo and increase the overall efficiency of the port.
- Boost to economy: The Vizhinjam Port is expected to boost India’s economy by creating new job opportunities and increasing the overall economic activity in the region.
- Improved connectivity: The Vizhinjam Port is strategically located near one of the world’s busiest sea trade routes, which will improve connectivity between India and other countries.
- Enhanced security: The Vizhinjam Port is equipped with advanced security systems, which will ensure the safe and secure movement of cargo.
Conclusion
The Vizhinjam Port is a significant development for India, and its inauguration is expected to bring in numerous benefits for the country. By reducing the need for trans-shipment, the port will save India $220 million every year, reduce costs, and increase efficiency. The port is also expected to boost India’s economy, improve connectivity, and enhance security. As India continues to grow and develop, the Vizhinjam Port will play a crucial role in facilitating the country’s economic growth and development.
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