India’s Ports Poised for 7‑9% Container Growth Through FY28

A Motilal Oswal Financial Services report projects India's container traffic to expand at a 7‑9% compound annual growth rate between FY26 and FY28, driven by strong macro‑economic conditions, rising domestic consumption and greater adoption of containerisation. Major Indian ports recorded a 7% year‑on‑year cargo volume increase in FY26, reaching 915 MMT, while non‑major ports grew only about 1.4% YoY. Coal traffic is expected to decline 2‑4% annually, whereas POL and crude rose 16% YoY and iron‑ore volumes are forecast to recover at 5‑7% CAGR.

Private operators Adani Ports and Special Economic Zone (APSEZ) and JSW Infrastructure (JSWINFRA) are slated to outperform the sector, with the report forecasting revenue growth of 17‑39% and EBITDA gains of 18‑34% through FY28. Policy support includes the NMP 2.0 programme, which aims to monetise 44 brownfield port projects and unlock INR 1.2 trillion of investment by FY30, and the Maritime Amrit Kaal Vision 2047, which targets expanding India's total port handling capacity from 2,800 MTPA to 10,000 MTPA.