India signs MoU with South Korea to Develop Ports

The importance of ports in the trade of India is continuously growing, however, the existing port structure is not adequate to meet the growing requirements.

There are certain issues that Indian ports are facing and so are not able to leverage maximum advantage from trading despite having such a long sea coastline.

Problems faced by Indian ports:

Most ports have inadequate facilities which results in delay in pre-trade activities. This also increases time taken by the ships in finishing the trip.

Though India has long sea coastline there are very few ports as the coastline doesn't have many indentations. The ports on the eastern coast of India are shallow and not able to accommodate large vessels that are now a days used.

Due to heavy monsoon but for Mumbai, Kandla and Cochin all other ports on the western coast of India are not used from the month of May to the month of August.

Other problem for trade through ports not increasing significantly in India is that the ports are not connected further by rail or road route. Western side it is difficult to connect ports with highways or railways due to the presence of Western Ghats. Ports on the eastern side of India face the problem of constant accumulation of silt as the coastline has numerous deltas.

Solutions:

Not wanting to get slowed down by such problems NDA government under the leadership of Prime Minister Narendra Modi has been working hard to develop Indian ports.

Minister of Road Transport and Highways and Shipping Nitin Gadkari signed MoU with the government of South Korea for cooperation and mutual assistance between the two countries in port related matters.

MIS 2016:

The South Korean delegation led by Minister Kim is in Mumbai to participate in the Maritime India Summit, 2016 (MIS, 2016).

MIS, 2016 is a maiden flagship initiative of the Ministry of Shipping, Government of India that provides a unique platform for participants to explore potential business opportunities in Indian Maritime Sector.

MIS, 2016 is being organised from April 14-16, 2016 at Mumbai and will have conference, exhibition and demo sessions.

Republic of Korea is the Partner Country of MIS, 2016. A delegation of over 100 participants from South Korea are attending the Summit.

Benefits from the MoU:

The signing of the MoU is expected to help both countries to encourage and facilitate the development of ports, port related industry, maritime relationship and cooperate in the tasks of sharing of technology, experiences in the fields of port development and operation, exchange of information on construction, building, engineering and related aspects in the field of port development, Joint participation in port-related construction, building and engineering projects that both parties are interested in, exchange of experts including officials from the relevant ministries of each country in the field of port, and related education and training, other types of cooperation that may be mutually agreed upon between the two countries.

Narendra Modi had visited Hyundai Heavy Industries Shipyard:

While on the visit of South Korea last year Prime Minister Narendra Modi had visited Hyundai Heavy Industries Shipyard. PM Modi was highly impressed with the Shipyard and had asked them to come to India and explore vast opportunities that India has to offer with regards to port development and other related fields.

Official programmes in Korea continue: now at the Hyundai Heavy Industries Shipyard. pic.twitter.com/CsoyDIbfas

— PMO India (@PMOIndia) May 19, 2015

Hyundai Heavy Industries Shipyard is very impressive. I asked them to come to India & explore the vast opportunities pic.twitter.com/yZintDIF1l

— Narendra Modi (@narendramodi) May 19, 2015