Government Initiates Major Steps to Tackle Shipping Woes

The government has announced significant measures to alleviate challenges faced by exporters, including reducing port charges and buying five additional used container vessels. The inter-ministerial meeting, chaired by Commerce and Industry Minister Piyush Goyal, aims to reduce shipping costs, address container shortages, and expedite custom clearances, amid rising freight costs and shipping delays.

In a decisive move to address persistent shipping challenges, the government on Thursday revealed plans to slash certain port charges and procure five additional used container vessels through the Shipping Corporation of India (SCI). This initiative aims to mitigate issues confronted by exporters and importers.

Chaired by Commerce and Industry Minister Piyush Goyal, the inter-ministerial meeting tackled growing concerns over rising freight costs, container shortages, and port congestion. Key decisions taken include halving storage charges, enhancing port capacities, and expediting custom clearances through simultaneous screening of containers.

These measures are expected to significantly reduce shipping costs, improve container availability, and alleviate congestion at ports, thereby providing much-needed relief to the exporting community. The government will continue to monitor the situation closely with the next review scheduled for the end of October.

(With inputs from agencies.)