India aims to invest 4.52 trillion rupees ($100 billion) by 2020 to build new ports and develop its shipping industry in a bid to boost trade, Shipping Minister G.K. Vasan said. The investment will likely more than triple India's annual port handling capacity to 3.2 billion tons, Mr. Vasan said.
That capacity will be higher than the estimated 2.5 billion tons annual cargo traffic by 2020, he said. The investment is also likely to increase India's share in the global shipbuilding industry to 5% from 1% and raise Indian companies' share in the global cargo tonnage to at least 9% from 6%-7%, Mr. Vasan said.
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