The government’s Maritime India Vision 2047, unveiled at the Global Maritime India Summit in Mumbai, has set ambitious goals to develop next-generation ports and increase port handling capacity by 400 percent. However, the vision document also suggests imposing restrictions on mergers and acquisitions that could result in a single group or enterprise holding more than 50 percent of the market share in the port sector.
This recommendation is timely, considering concerns over certain players attempting to gain a dominant position in a sector poised for significant private sector investment. The document outlines plans for consultations with state maritime boards to address this issue and proposes that the Competition Commission of India oversee deals that may breach competition laws.
Additionally, the vision document suggests that port tariffs should not fall below the operating cost per tonne of the asset to prevent predatory pricing by private port operators, ultimately promoting transparency and fairness in the sector.
