Mr Rajiv Agarwal, Operating Partner, Infrastructure Portfolio – Essar Capital, and Managing Director – Essar Ports, joins panel of industry leaders to discuss thoughts on the sector’s potential for growth and investment
Essar recently partnered with FICCI and supported their virtual event “Indian Ports & Logistics Conclave – Developing Ports for the Future: New India@75”. The conclave was inaugurated by Shri Sarbananda Sonowal, Honourable Minister for Ports, Shipping and Waterways and Minister of AYUSH (Government of India). Shri Sonowal set the context to the conclave by talking about how India is at the cusp of major maritime revolution. He highlighted the efforts of the Government to promote the sector, and their aim to make the legislative framework that is user-friendly and improves ease of doing business in the country. He emphasised the need to make provisions for multi-model infrastructure and facilities, and how there is a strategic effort to bring about a transformation to the sector, that also doubles up as a growth engine of the economy.
Post the inaugural address, the conclave witnessed many insightful discussions and sessions. The conclave was organised with the aim to bring together sector leaders across globe to discuss best practices, and engage in constructive dialogue. Mr Rajiv Agarwal, Operating Partner, Infrastructure – Essar and Managing Director, Essar Ports, was one the panelists for the session themed around ‘Indian Ports: Enhancing Capacity, Infrastructure and Investment’. Mr Agarwal was accompanied by reputed fellow panelists, Mr Arun Maheshwari, Joint Managing Director & CEO, JSW Infrastructure, Mr Dhruv Kotak, Managing Director, JM Baxi, Mr Kristof Waterschoot, Managing Director, Port of Antwerp International and Mr Arun Budakoti, Practice Lead – Network Transformation and Application Modernisation, India & SAARC, CISCO. The session initiated thought-provoking discussions with fellow panelists focusing on India’s Maritime Vision 2020, Major Ports Bill, ports capacity utilisation, international trade and investments, digitisation and role of technology in streamlining port operations, utilisation of waterways & inland connectivity, and ideas to put India on the global map to compete in the evolving market environment.
Mr Agarwal shared his thoughts on the necessary requirements to give a desired push to the Indian maritime sector. He stressed upon the need to develop deeper drafts, enhance capacity utilisation, aid tariff migration for the success of PPP, get more funding agencies for better financing costs, and have encouraging regulations & investment scenarios. He emphasised on how the Major Ports Bill enables faster decision making process and better dispute resolution. Further, on dispute resolution, he underlined the need to involve the ports, along with disputing company and licensee, to present the case to the board which will expedite the process and minimise the challenges faced by PPP. Mr Agarwal also pointed out that the credible increase in demand despite the pandemic was a huge factor in attaining considerable business growth in the first quarter of the year, giving a very optimistic view of the future.
Click here to watch the panel discussion
