Paradip Port Among Top Three Most Profitable Ports in India

New Delhi: Odisha’s Paradip Port has emerged as one of the top three most profitable ports in the country for the financial year 2023-24, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal informed the Rajya Sabha on Tuesday.

In a written reply, Sonowal revealed that Paradip Port recorded a net surplus of ₹1,571.10 crore and an operating surplus of ₹1,512.93 crore during the fiscal year. It was surpassed only by Jawaharlal Nehru Port, which posted a net surplus of ₹1,836.29 crore, and Deendayal Port, which registered ₹1,685.61 crore.

The minister also highlighted challenges faced by some major ports, including shortfalls in pension obligations, high dredging costs, restrictions on certain commodities, competition from non-major ports, and legal disputes.

To address these challenges and boost profitability, major ports are investing in modernisation and mechanisation of berths and terminals, deepening shipping channels, digitalising operations, and implementing strategic marketing initiatives.

Located in Odisha’s Jagatsinghpur district, Paradip Port is strategically positioned at the confluence of the Mahanadi River and the Bay of Bengal, making it a critical hub for maritime trade in the region.