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ShareThisPort of Mumbai Container Traffic Falls 12.7 Percent
Total tonnage rose 3.4 percent in November
India's Port of Mumbai saw container traffic in November fall 12.7 percent year-over-year, while total tonnage rose 3.4 percent from same period a year ago.
Container throughput at the port fell 17.5 percent year-over-year in the first eight month of fiscal 2012, which began April 1. Total tonnage traffic dropped 1.6 pecent during the April-November period from the same period in 2010.
India’s port regulator Tariff Authority for Major Ports last week approved a tariff increase for Mumbai despite the protests of user associations. The new rate scale, slated to take effect Dec. 21, calls for a 30 percent hike in cargo-related charges and a 23 percent in marine dues.
The increase, which will substantially push up vessel operating costs, is expected to put pressure on port management’s ongoing efforts to woo more mainline calls and boost cargo throughput.
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This is the first report of fall in domestic production and consumption. It seems that the benefit of short economic growth of late nineties and beginning 2000 is now waning and may lead to shortage and then back to license raj where the present government may find them selves comfortable. But the people will suffer not the industrialists who may find it comfortable also. It is sad that the present government has no answer nor they want to find out any answer to this gaping problem created by no action from the government for last 10 years. To top it up the government finds giving dole to the poor without increasing production and consumption as a fine way of getting vote which they are getting. The percentage of population dependant on government is increasing which is an added bad effect of no growth. The icing on the cake is wide spread corruption leading to further generation of non productive wealth.
Indian economy is self sustaining and therefore, effort should be made to improve infrastructure across the country where by goods can be moved without hindrance to places for consumption. The seven budgets of this government has been just time pass. Do we just want a vote on account days in and days out? Unless these issues are handled well nothing will happen and our economy shall be in the danger of slipping to closed economy else it will become very difficult to keep the price line.
Dr Aloke Chakravartty
Director, Braunware Schools of Management
09230527596