India is planning to expand its merchant fleet by 100 ships over the next five years, as part of its efforts to reduce dependence on foreign shipping companies.
Speaking at the first Sagar Samvad, Union Minister of State for Ports, Shipping and Waterways Shantanu Thakur revealed that India currently spends around $75 billion a year on foreign shipping firms just to transport essential cargoes like crude oil, coal, urea, and natural gas.
The event was organised by the National Shipping Board, a statutory body set up back in 1958 to advise the government on everything from shipping policy and tonnage to seafarer welfare and port development.
Thakur said the main issue was about competitiveness and demand, and the nation needs to have more control over its shipping capabilities.
The NSB has put forward a five-point plan aimed at making Indian shipping companies more competitive. The proposals cover tax reforms, guaranteed cargo allocations,
Content Original Link:
" target="_blank">
