India is set to double its investment in infrastructure projects from $514 billion to $1 trillion partly to speed up development of local ports projects.
The investment will come under a new program which will replace the government's current National Maritime development plan, according to a report from Drewry.
The program would also extend coverage to major ports together with state-controlled non-major ports.
The report added that the private sector, which currently supports 30% of the investment, will likely increase its share in the future.
Besides awarding projects, the new development plan will also list targets for the shipping sector.
The slow development of port projects has been deemed as "a bottleneck" for the country's growth. It is believed that only five out of 25 projects have been awarded so far under the current port development program.
Meanwhile, India is set to surpass its annual target of $200 billion following an export growth of 27% in the first half (H1) of 2010.
This has "helped shape India's image as viable, profitable investment hub," the report said.
"Stage is now set for extensive inflows in core infrastructure projects including roads and ports," it said.
The investment will come under a new program which will replace the government's current National Maritime development plan, according to a report from Drewry.
The program would also extend coverage to major ports together with state-controlled non-major ports.
The report added that the private sector, which currently supports 30% of the investment, will likely increase its share in the future.
Besides awarding projects, the new development plan will also list targets for the shipping sector.
The slow development of port projects has been deemed as "a bottleneck" for the country's growth. It is believed that only five out of 25 projects have been awarded so far under the current port development program.
Meanwhile, India is set to surpass its annual target of $200 billion following an export growth of 27% in the first half (H1) of 2010.
This has "helped shape India's image as viable, profitable investment hub," the report said.
"Stage is now set for extensive inflows in core infrastructure projects including roads and ports," it said.