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Container traffic grows10% for July-September period: Reports

Investment Guru India 2017-12-06 11:46:39

According to reports, container traffic in India grew 10 per cent for the July-September period. Commenting on the issue, Steve Felder, the managing director for Maersk Line told the media, "It is the first time that the psychological level of 10 per cent has been crossed and it is very important." “The volume growth outpaces what was achieved in the last twelve months and the company expects the same to continue in the last quarter of the year as well.

This growth is "outperforming" industry expectations and much faster than many of India's emerging market peers,” he added. “The uptick in the GDP growth, which increases consumption in the country, has also helped in the ramping up of containerised trade,” he further said. As per reports, the Indian Ports Association, a body of the state-run major ports, had reported a 3.26 per cent surge in traffic in the April-October period. It can be noted that policymakers and analysts have been voicing concerns over a dip in exports.