Care Ratings: Ports Sector Update

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Care Ratings Research Report

The volume of cargo traffic handled at the Indian ports has witnessed a considerable decline since March 2020 on account of the synchronized global economic slowdown and lockdowns brought about by the Covid-19 pandemic.

Economic activity and external trade determine the country’s port activity given that around 95% of India's trading by volume is done through maritime transport.

The shrinkage in the global economy (forecast to contract by 4.4% in 2020 by the International Monetary Fund) and world trade (estimated to decline by 9.2% by the WTO) has had a direct bearing on the cargo traffic handled at the Indian ports.

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