India, the fastest growing major economy in the world, is seeing ever greater volumes of large boxships visiting its shores, necessitating the construction of far larger ports.
The International Monetary Fund forecasts India’s GDP to grow 6.8% this year, while exports are accelerating at a rapid clip. The nation managed $422bn in exports last year, beating the government’s $400bn target. The share of machinery and electricals in India’s exports overtook the legacy textiles and apparel sectors in 2022 with shares of 9.9% and 9.7% respectively.
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