Icra says FY22 port cargo volumes to remain robust, exceed pre-Covid level

During April-August period all segments, except fertilisers, posted healthy year-on-year growth; better numbers can be attributed to base effect

With April-August cargo volumes having almost reached pre-COVID levels despite the second wave, Icra Ratings expects overall volumes at Indian ports to continue witnessing improvement through the current fiscal and even surpass FY2020 (pre-Covid) volumes.

During April-August period all segments except fertilisers have witnessed healthy year-on-year growth. The overall cargo volumes are largely stable in the period under review as against the corresponding period in FY20, driven by healthy growth in containers, iron ore and other miscellaneous segments, said the ratings agency.

"In the period under review, volumes reached almost pre-Covid levels despite the second wave of Covid-19, as economic activity improved.