Keen to expand, invest in India: Maersk

By: |
New Delhi | April 20, 2016 5:29 PM

The company has five lines of business: Maersk Line, APM Terminals, Maersk Oil, Maersk Drilling and APM Shipping Services.

 

MaerskThe Maersk Group, with a significant presence here, operates in 130 countries with five core businesses. (Reuters)

 

Global shipping and logistics firm Maersk, which has already invested about USD 800 million in India, is looking at expanding its footprint by tapping into “a number of opportunities” available in the country.

The Maersk Group, with a significant presence here, operates in 130 countries with five core businesses, also said that for the ‘Make in India’ programme to succeed, the country needs “energetic set of policy mechanism” for the sector.

“We are very keen to invest and to grow. We invested 1 billion USD in acquiring group of 11 ports based out in Spain…that is illustrative of our appetite for growth… We have just announced a 800 million USD investment in Tangier… We are very keen to do something like this over here,” Julian Michael Bevis, Senior Director, Group Relations, South Asia, AP Moller Maersk told PTI in an interview.

Bevis said India, especially with its recent focus on infrastructure is a strategic market for the group and it is scouting for “strategic opportunities” at the right time with a market driven tariff regime.

He said it was for the first time that the government was so keen to address the problems of the private players, investors and others and announcements made by Prime Minister Narendra Modi as well as Shipping Minister Nitin Gadkari at the recent maiden Maritime India Summit further strengthened the group’s intent to augment its base in India.

“We are very positive about the overall market place strictly with the background of the politicians, and what they are saying it is very constructive. There are policies like Sagarmala in place. This means there will be a number of opportunities,” Bevis said.

He stressed that shipping and logistics which were not the focus of the any government ten years ago were priority sectors now which was a positive indication as these sectors have immense potential to boost the economy of the country.

At the same time he emphasised the need for correct set of policies in this regard.

“If initiatives like Make in India and other are really going to work then it has to be supported by a competitive, energetic set of policy mechanism in terms of logistics,” Bevis said.

He said the Maersk Group which is an end-to-end player across the transport and logistic value chain, till date has invested close to “USD 800 million” in India and facilitated 2,96,000 jobs in 2014 with direct employment to 13,000 people.

Maersk directly employs 13,000 people in the country, he said, adding that the multiplier effect is larger as every Maersk job created 29 additional jobs in India resulting in nearly 296,000 jobs.

He said the group “added economic value worth Rs 1.11 trillion to the local economy in 2014” and would look forward to further enhancing it.

The company has five lines of business: Maersk Line, APM Terminals, Maersk Oil, Maersk Drilling and APM Shipping Services.

“We will move ahead as the government’s focus on Maritime led infrastructure development presents tremendous opportunities,” Bevis said.

Pitching for making the country’s 7,500-km long coastline an “engine of growth”, Prime Minister Narendra Modi on April 14 had said India wants to mobilise Rs 1 lakh crore investment to enable port development and invited global community to invest.

Inaugurating the first Maritime India Summit (MIS) last week, Modi has said it is the “right time” to come and better through the “sea route”.

“Our vision is to increase port capacity from 1,400 million tonnes to 3,000 million tonnes by 2025. We want to mobilise an investment of Rs 1 lakh crore in the port sector to enable this growth,” the Prime Minister has said after opening the MIS 2016.

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