Adani Ports and Special Economic Zone (APSEZ) MD Karan Adani said India is witnessing double-digit growth driven by the ongoing US-China trade war. This has put the country in a “sweet spot”, he said at the inauguration of Vizhinjam Transhipment port on Friday.
“For us, trade is increasing by more than double digits due to the trade war. But India is in a sweet spot…I think from a trade perspective, we are seeing that a lot of manufacturing is moving into India, and the export boxes are increasing from India to the US,” Karan Adani reportedly said in a media interaction.
Commenting on the Adani Group’s expansion plans, Gautam Adani’s elder son said the power-to-port conglomerate is eyeing both organic and inorganic opportunities, especially in Southeast Asia and East Africa. APSEZ MD also mentioned that the company is making more money than it can utilise, an issue that the newly launched port is set to resolve.
APSEZ has projected that the 5 million TEU Vizhinjam International Deepwater Multipurpose Seaport project in Kerala will be completed by 2028. The company has planned a capital expenditure worth Rs 12,000 crore for the fiscal year 2025-26. Half of the capex will be invested towards capacity expansion at its existing 16 ports, including Mundra, Colombo and Dharma ports and the remainder will be utilised in the expansion of logistics, marine, technology and decarbonisation.
The Vizhinjam Transhipment Port, formally inaugurated by Prime Minister Narendra Modi, aims to become a transhipment hub. Its strategic location near the southern tip of India and about 20 Km away from a major east-west shipping corridor places it in an advantageous position in the port transportation sector. The port began its commercial operations in December last year.
“Give us a year, and you will see that all Indian cargo will get trans-shipped here rather than predominantly internationally,” said Karan Adani.
