The Major Ports Authorities Bill passed by Parliament on Wednesday will help develop a faster and transparent decision making process besides enabling these ports to compete in the evolving market environment, Essar Ports has said.
Earlier in the day, the Upper House of Parliament passed the Major Ports Authority Bill, 2020, that seeks to provide greater autonomy in decision-making to 12 major ports in the country and professionalise their governance by setting up boards.
The Lok Sabha had passed the bill on September 23, 2020.
The bill aims to provide for regulation, operation and planning of major ports in India and to vest the administration, control and management of such ports upon the boards of major port authorities and for matters connected therewith or incidental thereto, be taken into consideration.
"The Major Ports Authorities Bill passed by the Rajya Sabha is indeed a revolutionary move in the Indian Ports Sector. The bill will provide regulation, flexibility and self-governance to the major ports of the country," said Rajiv Agarwal, Managing Director and Chief Executive Officer, Essar Ports, in a statement.
It will develop a faster and transparent decision making process, which will help in the growth and development of major ports, thereby enabling them to compete in the evolving market environment, he said.
India has 12 major ports -- Deendayal (erstwhile Kandla), Mumbai, JNPT, Marmugao, New Mangalore, Cochin, Chennai, Kamarajar (earlier Ennore), V O Chidambarnar, Visakhapatnam, Paradip and Kolkata (including Haldia).
"Also, the move will certainly pave the way for driving the country's vision towards Aatmanirbhar Bharat and making India a global manufacturing hub," said Agarwal.
In terms of volume, 70 per cent of cargo movement is through ports while 90 per cent in value terms.