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The Central Government notified the port in exercise of the powers conferred by section 5 of the Indian Ports Act, 1908.
- It is being developed as an International Container Transshipment Port (ICTP).
- A transshipment port is a hub or location where cargo is transferred from one vessel to another for further transportation to its final destination.
Significance of ICTP at Galathea Bay in Andaman & Nicobar
- Economic:
- ICTP at Galathea Bay would facilitate EXIM trade as it lies on an International shipping route.
- Presently, nearly 75% of India’s transshipped cargo is handled at ports outside India. E.g., Colombo, Singapore and Klang.
- The project will ensure forex savings, foreign direct investment, increased economic activity at other Indian Ports, etc.
- ICTP at Galathea Bay would facilitate EXIM trade as it lies on an International shipping route.
- Strategic: The transshipment port will be close to the choke points like Malacca Strait and the East-West shipping route connecting Europe, Africa, and Asia.
Ports in India
- There are 12 major ports and 200 non-major ports (minor ports) in the country.
- The Major Ports of India are regulated under Major Ports Authority Act, 2021 and are under the administrative control of the Ministry of Ports, Shipping and Waterways.
- Non-Major ports and their concessionaires are regulated by State Maritime Boards under respective State Governments.
