New Delhi, March 16 -- Indian port industry will grow at the rate of 4-7 per cent over the next five years, supported by rising imports, a decline in freight costs, and the normalization of global supply chains, according to a report by Motilal Oswal.

As per the report, the cargo traffic is expected to grow at a steady annual rate of 3-6 per cent, with utilization rates stabilising at approximately 55 per cent over the medium term.

Transshipment, which currently accounts for about 25 per cent of India's container throughput, remains a critical segment, with key ports like Chennai playing a pivotal role in facilitating this segment.

According to the report, between the Financial Year (FY) 2023 and FY28, India's ports are expected to inc...