Port Sector recovers from supply shocks, goes past pre-Covid level

Once in dire straits, India's port sector has finally started registering growth, surpassing even the pre-pandemic volumes. Between major and non-major ports, a total of 366.4 million tonnes (mt) of cargo was handled by Indian ports in the first quarter of the the financial year (Q1FY23). This is 11.3 per cent higher than the cargo handled during the same period in 2019-20 and almost 17 per cent higher than the volumes of Q1FY19. After the pandemic struck, international trade had been abruptly brought to a halt, causing severe losses to seafarers. Ports account for 95 per cent of India’s export-import