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Consider the following statements with respect to Ports and Shipping Industry:
1. Maritime transport in India handles more than 90% of India's external trade by volume.
2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.
Which of the statements given above is/are correct?
1. Maritime transport in India handles more than 90% of India's external trade by volume.
2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements with respect to Ports and Shipping I...
• The Indian ports and shipping industry plays a vital role in sustaining growth in the country’s trade and commerce. India is the sixteenth largest maritime country in the world, with a coastline of about 7,517 km. The Indian Government plays an important role in supporting the ports sector. India has 12 major and 205 notified minor and intermediate ports. According to the Ministry of Shipping, around 95 percent of India's trading by volume and 70 percent by value is done through maritime transport. Hence, statement 1 is correct.
• During FY19, cargo traffic at major ports in the country was reported at 699.05 million tonnes (MT). According to Economic Survey 2019-20, the Cumulative Annual Growth Rate (CAGR) of minor ports is around 12% during FY2000 - FY2019 and major ports have a CAGR of around 5% during the same period.
• It has allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route for port and harbor construction and maintenance projects. It has also facilitated a 10-year tax holiday to enterprises that develop, maintain and operate ports, inland waterways, and inland ports. Hence, statement 2 is correct.
• Way Ahead:
1. Under the Sagarmala Programme, the government has envisioned a total of 189 projects for modernization of ports involving an investment of Rs 1.42 trillion (US$ 22 billion) by the year 2035.
2. Ministry of Shipping has set a target capacity of over 3,130 MMT by 2020, which would be driven by participation from the private sector. Non-major ports are expected to generate over 50 percent of this capacity.
3. India’s cargo traffic handled by ports is expected to reach 1,695 million metric tonnes by 2021-22, according to a report of the National Transport Development Policy Committee.
• During FY19, cargo traffic at major ports in the country was reported at 699.05 million tonnes (MT). According to Economic Survey 2019-20, the Cumulative Annual Growth Rate (CAGR) of minor ports is around 12% during FY2000 - FY2019 and major ports have a CAGR of around 5% during the same period.
• It has allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route for port and harbor construction and maintenance projects. It has also facilitated a 10-year tax holiday to enterprises that develop, maintain and operate ports, inland waterways, and inland ports. Hence, statement 2 is correct.
• Way Ahead:
1. Under the Sagarmala Programme, the government has envisioned a total of 189 projects for modernization of ports involving an investment of Rs 1.42 trillion (US$ 22 billion) by the year 2035.
2. Ministry of Shipping has set a target capacity of over 3,130 MMT by 2020, which would be driven by participation from the private sector. Non-major ports are expected to generate over 50 percent of this capacity.
3. India’s cargo traffic handled by ports is expected to reach 1,695 million metric tonnes by 2021-22, according to a report of the National Transport Development Policy Committee.
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Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements with respect to Ports and Shipping Industry:1. Maritime transport in India handles more than 90% of Indias external trade by volume.2. 100 percent FDI is allowed under automatic route for port and harbor construction and maintenance projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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