Cargo handled at Adani Ports and Special Economic Zone (APSEZ) contributed Rs 80,732 crore to the Customs department’s coffers in FY23, up from Rs 60,945 crore in FY22. According to industry executives, with increased port traffic, the Customs agency expects to earn Rs 1.15 trillion by the conclusion of the current fiscal year.
According to the executives, Adani Ports and SEZ has handled over a fifth of India’s port cargo, resulting in an increase in Customs receipts.
Customs receipts from goods transit via the company’s port and inland container depots totaled Rs 41,110 crore during the fiscal year ended March 2021. APSEZ has also made significant rail freight payments to Indian Railways, more than doubling freight payments to Rs 14,034 crore in FY23.
In FY21, APSEZ paid the railroads Rs 5,927 crore, which grew to Rs 8,573 crore in FY22.
The increase in rail freight payments benefits not just the railways but also the broader growth of the nation’s infrastructure. Cargo handled at APSEZ also added to waterfront royalties and revenue shares to respective maritime boards and port authorities.
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