8OCTOBER 2024CENTRAL GOVERNMENT TO UPGRADE CARGO HANDLING INFRASTRUCTURESANAND GROUP TO INVEST IN THEIR MANUFACTURING CAPABILITIES TO CATER EVSIndia's container handling capacity at major ports is set to nearly double in the next five years, according to Sarbananda Sonowal, Union Minister for Ports, Shipping, and Waterways. Currently, the country's central government-controlled ports handle about 23 million TEUs (twenty-foot equivalent units) annually, but the target is to reach 40 million TEUs, generating an estimated two million new jobs.In addition to expanding port capacity, India plans to establish shipbuilding and repair hubs in Gujarat, Maharashtra, Kerala, Andhra Pradesh, and Odisha. These hubs will be part of a larger strategy supported by a forthcoming Greenfield Shipyard Building scheme, which aims to enhance the nation's shipbuilding capabilities.The government is also allocating over 3,900 acres in Kandla and V O Chidambaranar Port to develop hydrogen manufacturing hubs, attracting investments exceeding 5 lakh crore. This initiative aligns with the push towards clean energy and sustainability.Further, TK Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways, noted that demand and supply-side interventions are being developed to strengthen India's shipbuilding sector. A new scheme for greenfield shipyards is in progress, and the government will also revise the Shipbuilding Financial Assistance Scheme to offer higher incentives for building clean energy and hybrid fuel-powered ships. These measures are expected to bolster India's position as a future shipbuilding hub. The ANAND Group, a major player in the auto component industry, is investing Rs 600 crore in the current financial year to bolster its capabilities, with a focus on introducing advanced and emerging technologies to the Indian market, particularly for electric vehicles (EVs) and sports utility vehicles (SUVs). This investment is part of a larger Rs 3600 crore plan that spans five years, set to conclude by FY25, aimed at strengthening the Group's development and manufacturing of advanced auto parts.Gabriel India, the Group's listed arm, holds a 35 percent market share in the rapidly growing SUV segment, in comparison to its 23 percent overall share in the passenger vehicle (PV) market. According to Mahendra Goyal, CEO of ANAND Group, most of their companies are now supplying components tailored for SUVs. These include high-end electronic power steering systems and electronic stability control systems for braking, supplied by Mando ANAND India, as well as shock absorbers for SUVs manufactured by Gabriel.Additionally, Dana Anand has witnessed increased sales of drive shafts and axles, both essential for SUVs, while MAHLE ANAND Thermal Systems is providing e-compressors and PTC heaters designed specifically for the new generation of e-SUVs and other electric platforms.As a result of these developments, the Group has seen a notable rise in revenues from the SUV sector, which now contributes 35 percent to its total revenues, up from 20 percent five years ago. Furthermore, 6 percent of ANAND's revenues are currently generated from its electric vehicle parts manufacturing, which caters to both electric four-wheelers and two-wheelers. TOPSTORIES
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