Thiruvananthapuram (Keralam) [India], August 18 : The start of export-import operations at Vizhinjam International Seaport in Keralam will provide exporters with a more direct route to global markets and help improve competitiveness and cash flows for MSMEs according to Adani Ports and Special Economic Zone CEO and Whole Time Director Ashwini Gupta.
Addressing the launch of export-import (EXIM) operations, Gupta on Tuesday said the port's transition from a transshipment facility to handling export-import cargo would open a new gateway between India and global markets, allowing more cargo and economic activity to remain within the country.
"For exporters, whether they are shipping seafood, spices, cashew nuts, engineering goods, Vizhinjam creates a faster and more direct route to international markets," Gupta said.
"For MSMEs, every day saved in transit improves competitiveness, cash flows and the growth potential," he added.
Gupta said importers would also benefit from quicker access to raw materials and more efficient supply chains, allowing faster conversion into finished products for domestic consumption as well as exports.
"Most important, it allows more cargo, more value creation and more economic activity to remain within the state and within our country, India," he said.
The CEO said the port had handled more than 2.3 million TEUs in its first full year of operations and captured nearly 30 per cent of India's transshipment container market. It, he said, has also handled ultra-large container vessels measuring nearly 400 metres.
Gupta said the next phase of Vizhinjam's development would depend partly on completing road and rail connectivity, which could help the port serve businesses across Kerala as well as Andhra Pradesh, Karnataka and Tamil Nadu.
He said the company had already committed an additional Rs 16,000 crore for Phase 2, which will eventually expand capacity from 1.6 million TEUs to 5.7 million TEUs. The expansion is planned to include new infrastructure, bunkering facilities, a liquid jetty and an integrated logistics ecosystem.
Addressing mediapersons on the sidelines of the event, Keralam Minister P K Kunhalikutty said, "It is going to be a backbone for all our activities, including our traditional industries. There are many things being produced in Kerala that are looking for a better market. That better market will be available to us."
Meanwhile, speaking to ANI, Vijoy Kumar Singh, Director (International Marketing & Operations), Container Corporation of India, said, "We, as one of the foremost PSUs of the Ministry of Railways, Container Corporation of India Limited, are keenly watching and eager to get associated in whatever capacity... I look forward to getting associated in whatever capacity we can."
Geromic George, Managing Director, Vizhinjam International Seaport Limited, described the EXIM launch as a "major milestone."
He further added that, "with this, we hope to jump-start Kerala's industrialisation as well, and have a good, strong, solid port ecosystem around the port, with logistics, industry, economic clusters, and so on."