Port of Savannah’s trade with India up 18%
India fastest growing trading partner for Georgia Ports
The overall trade of Georgia Ports Authority (GPA) with India grew faster than its trade with any other country among the top 20 over the past fiscal year.
Import-export volumes between Savannah and India totaled 279,149 TEUs last fiscal year, for an increase of 18 percent or 43,333 TEUs, according to an update from GPA.
*GPA exports to India grew by 50 percent in FY23 vs FY22, and by nearly 80 percent in the past five years.
*Overall GPA trade with the South Asian nation grew by 18 percent in the past fiscal year and 61 percent over the past five years.
*Savannah handles more India trade than any other U.S. port except NY/NJ.
*GPA imports from India over the past five years were up 52 percent. In FY23, imports constituted 63 percent of GPA’s total India volumes, signalling well-balanced trade; and
*GPA has weekly container services with India’s major ports of Nhava Sheva, Mundra and Pipavav.
“Our growth trajectory with India is extremely strong and we are actively taking steps to increase our presence in the market,” says Griff Lynch, President and CEO, GPA. “As production shifts to India and as demand in its economy rises, that trade increasingly favours the Port of Savannah’s strategic location over West Coast ports due to time and cost.”
India’s exports were one-tenth of China’s in 2021 but now exceed all other emerging markets except Mexico and Vietnam, according to World Bank data. India’s infrastructure is getting sweeping upgrades and the nation plans to invest $82 billion in port projects by 2035, the update added.
GPA contributes $33 billion in income, $140 billion in revenue and $3.8 billion in state and local taxes to Georgia’s economy, and is investing in future supply chains with a $1.9 billion port master plan.