Union Budget 2015: FM Arun Jaitley wants government ports to become companies

Finance Minister Arun Jaitley said in Union Budget 2015 that government-run ports in India will be encouraged to corporatize and become companies under the Companies Act, in an attempt to professionalize these ports, which are struggling to manage rising cargo demands.

India has 12 major ports, most of which are governed under the Major Port Trust Act 1963. Only Tamil Nadu's Kamarajar Port, previously known as Ennore Port, has a corporate structure.

Separate board of trustees appointed by the Central Government, whereas Ennore Port is public limited company fully owned by the Central Government.

Major Ports, including Jawaharlal Nehru Port and Chennai Port, have been losing out on cargo to privately-owned ports by Adani Ports and Gujarat Pipavav.