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Does India have the potential to be a leader in the Shipping Industry?

Answers 1

India is surrounded by water on three sides. The Arabian Sea In the west, the Bay of Bengal in the east, and the vast Indian Ocean in the south. The Ocean itself touches the border of 3 continents which includes 45 countries and islands in total. India has a lot of untapped potential for trade growth in shipping and port sector. Approximately, 95% of India's trade by volume is done via the maritime route. India has 12 major ports and 200 minor ports which play a pivotal role in the country's economic role. In the past four years, the traffic in major ports have increased by 500%, it has helped the Indian economy in increasing its profit by three times. The government has launched schemes will help the country's shipping sector and have a boost in its efficiency, the way it works and so on. Projects like Sagarmala and UNNATI are just some of the governments steps towards a bright future of shipping and freight industry.


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