The new port development policy has made all large ports post profit, according to Nitin Gadkari, Union Shipping Minister.
The government had understood the importance of developing the waterways as they reduced the cost of transporting cargo. The Centre had not invested in redeveloping ports and also developed 111 smaller ports, he said. The government was keen on developing the Ganga and Bhramaputra riverways as it would reduce the cost of transporting cargo significantly, he said at the fourth convocation of the Indian Maritime University here on Friday.
In the last four-and-half years the Centre had initiated redevelopment of ports which had since then been neglected. As a result the logistics of transporting cargo was higher as the country was not using the waterways effectively, the minister said.
He urged the graduates to consider becoming entrepreneurs. There is no shortage of investment in the shipping business. All it required was a vision and introduction of technology and a healthy attitude to the profession.
A two-minute silence was observed for the victims of the Pulwama terror attack before the event began.