100% FDI Allowed in Port Sector

Press Information Bureau

Government of India

Ministry of Shipping

12-December-2011 16:26 IST

The guidelines for private sector participation in the Major Ports issued in October, 1996 allows and encourages private participation including Multi-National Companies (MNCs) in enhancing port capacities and modernization of port equipments etc. Accordingly, 100% FDI is allowed in Port Sector to supplement domestic capital, technology and skills, for accelerated economic growth.

Security clearance is sought in respect of all bidders for port projects for all Major Ports from all the concerned security agencies including the Ministry of Defence and the bids of only those bidders which are cleared from the security angle are taken into consideration in port sector projects.

The above information was given by the Union Minister of Shipping, Shri G.K. Vasan in a written reply to a question in Lok Sabha today.

MG/AS – PQ4 – usq 2762