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Slower growth in port traffic in next five years : CRISIL
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Why in the news?
- The CRISIL said in its report that due to the slower pace of growth in coal, the containerised cargo segment will cushion port traffic growth in the next five years.
More on news
- As per the report, port traffic is estimated to log a compound annual growth of 35% in the five years through fiscal 2022, a notch down from 4.4% in the last five years.
- In the last five years, port traffic growth was led by a surge in coal imports, especially at nonmajor ports.
- In the next five years, coal traffic is expected to remain flattish as an increase in coastal traffic due to increased production is offset by a corresponding fall in imports.
- The report pegged container traffic growth, in contrast, at 68%, riding on improvement in exportimport trade in sectors including chemicals and automotives and ancillaries.
- Over the five years through fiscal 2022, as container traffic growth outpaces other segments, its share in total traffic handled at Indian ports is expected to increase to 19%, from 16% now.
- Coal, which accounts for 22% of total traffic, is expected to see a dip in share to about 19%.
CRISIL
- CRISIL (Credit Rating Information Services of India Limited) is first credit rating agency set up in India in 1987.
- CRISIL has become a global analytical company that rates companies, researches the markets and provides risk and policy advisory services to its clients.
- CRISIL provides independent opinion and efficient solutions by performing data analysis and research.
- CRISIL works with various governments and policy-makers in India and other developing nations to enhance and improve the infrastructure and meet the demands of the region.
- CRISIL is headquartered in Mumbai.
Source
The Hindu, paisabazar.