As shifting economic conditions continue to drive changes in global trade flows, the Georgia Ports Authority (GPA) today said that its overall trade with India grew faster than its trade with any other country among the top 20 over the past fiscal year.
Not only is GPA expanding its trade with India, but it led its domestic peers in that trend, as well. No other U.S. port expanded India trade by more containers than the Port of Savannah, by a margin of 14,000 twenty-foot equivalent (TEU) container units, according to PIERS-Enterprise loaded cargo data.
By the numbers, import-export volumes between Savannah and India totaled 279,149 TEUs last fiscal year, for an increase of 18% or 43,333 TEUs.
And the port says its trade with that nation is well balanced, with imports constituting 63% of GPA’s total India volumes in fiscal year 2023. Put another way, GPA imports from India over the past five years were up 52%, while its exports to India grew by 50% in FY23 vs FY22 and by nearly 80% in the past five years.
“Our growth trajectory with India is extremely strong and we are actively taking steps to increase our presence in the market,” Griff Lynch, GPA’s president and CEO said in a release. “As production shifts to India and as demand in its economy rises, that trade increasingly favors the Port of Savannah’s strategic location over West Coast ports, due to time and cost.”
To support that increased trade lane, GPA now has weekly container services with three Indian ports: Nhava Sheva—India’s commercial and financial hub, and its largest port—Mundra and Pipavav.