India's freight traffic increased

According to data released by the Indian Ports Association, India's major ports witnessed a 4.5% year-on-year increase in freight traffic, reaching 819.2 million tonnes in the fiscal year 2023-24 (2023 April - 2024 March).

The growth was primarily driven by a 6.6% year-on-year rise in container traffic and a significant 32.7% year-on-year increase in iron ore traffic. Container traffic reached 181.6 million tonnes, while iron ore traffic stood at 61 million tonnes during April-March.

Coking coal traffic saw a notable 10.2% year-on-year rise, reaching 64.9 million tonnes by the end of the financial year on March 31.

On the other hand, thermal coal traffic declined by 1.7% year-on-year to 127 million tonnes in April-March.

In terms of specific ports, Paradip recorded the highest traffic during April-March at 145.4 million tonnes, followed by Deendayal Port at 132.4 million tonnes, and Jawaharlal Nehru Port Authority at 85.8 million tonnes.