DP World Ltd., a United Arab Emirates-based port operator, plans to expand in India to alleviate trade bottlenecks, according to its chief executive officer.
While DP World principally runs container ports, it’s also involved in developing other industrial sites, freight services and trade financing. It’s looking at ways to get goods to customers faster as the sector grapples with threats to cargo in the Red Sea and Suez Canal, the after effects of the pandemic and the risk of tariffs.
“In India, we’re looking at more industrial parks, more logistics ability,” CEO Sultan Ahmed Bin Sulayem said in a Bloomberg Television interview. “The nature of the market and the congestions make it difficult from the ports to the destination.”
The company already operates ports in the country and has invested in rail connections.
Elsewhere in Asia, the enormous Chinese market is also a focus for growth, though it’s still recovering from the effects of the pandemic, according to the CEO.
“China just opened only a year ago or so, and a lot of factories are still dealing with the backlog of the cargo that they have to produce,” he said. But with recent stimulus, the government is advancing “the right policies and encouraging growth.”
