How would Vizhinjam Port save India $220 million every year?

The Vizhinjam Port, inaugurated in Kerala by PM Narendra Modi on Friday, is located near one of the world's busiest sea trade routes. In the absence of trans-shipment port, India's cargo used to come through areas like Sri Lanka, Singapore, and Jebel Ali in the UAE, which increased costs. The new port is likely to save $220 million a year.