Indian shipping minister, Nitin Gadkari has said that the government has no plans to privatise India’s ports and is instead seeking to find alternatives to “corporatisation”.
In February, finance minister Arun Jaitley’s budget had laid out intentions to corporatise state-owned ports, saying: “Ports need to attract investments as well as leverage the huge land resource lying unused with them and to enable us to do so, ports in the public sector will be encouraged to corporatise and become companies under the Companies Act.”
However, at a Mumbai Port Trust event on Friday (5 June), Gadkari told reporters that his ministry is “looking at other alternatives beyond the Companies Act to modernise and develop the ports”.
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