Government looking at ways to promote shipping sector: Piyush Goyal
Union Commerce and Industry Minister Piyush Goyal has said that ship-building opportunities in the country are high and the government is looking at ways to promote the sector. He also urged the industry to suggest ways to make flagging of vessels in India attractive. He noted that India has the advantage to allow cabotage of vessels and promote imports coming in Indian flagged vessels permitted within the WTO rules, but does not have enough flagged vessels to take advantage of the regulations. He urged the participants to suggest ways at the state and central levels to help companies come in flagged vessels in India.
Goyal further stated that India has doubled its port capacity in the last decade and has significantly brought down the turnaround time of ships, and added that the work remains towards strengthening the logistics ecosystem. Noting that as much as 95 per cent of India's trade volume goes through ports and the 7,500 km coastline acts as a major enabler for the trade, he stressed the immense potential the sector has to grow over the next few years. He also stressed the need for the logistics system to be more conducive to handling the current traffic at ports.
The minister said Unified Logistics Interface Platform (ULIP) has been introduced to aid logistics, but more ideas are needed to provide the whole ecosystem-linked logistics at ports. He further called for a hybrid mode of training to meet the growing demand of seafarers in the sector. He said container ownership, container manufacturing, faster speed of exports, and ease of congestion are the areas that need improvement. He noted that India stands out as an oasis amidst the global trade turmoil, and hoping the country would continue to grow and contribute towards the greater good of the world. He pointed out the maritime trade and logistics sector as the backbone of the Viksit Bharat mission.
