Every economic activity is conducted through ports, and the Ministry of Ports, Shipping, and Waterways (MoPSW) is responsible for managing ports, waterways, and other related issues. According to a prominent media source, the central government intends to implement a policy that will permit the extension of port terminal contracts beyond 30 years. This extension is only permitted under specific terms and conditions.
The upcoming policy will control significant ports and give them the right to offer lease renewals to current terminal operators, subject to certain restrictions, in accordance with the statement of a senior shipping minister.
The port agreement that was signed in India in the late 1990s and afterwards did not have a clause that allowed it to be extended. The management of ports, waterways, and all economic activity that occurs through ports is handled by the Ministry of Ports, Shipping, and Waterways (MoPSW). The report stated the new policy might become a concern for port terminal operators who are not sure if they can hold on to their assets for long.
