India's Maritime Industry: Unlocking Shipbuilding and Logistics Potential

The Indian maritime industry is poised for growth with a focus on shipbuilding and logistics. Union Minister Piyush Goyal highlights opportunities for Indian-flagged vessels and the need for industry collaboration. The 12th Biennial International Conference in Mumbai explores sustainable logistics and the future of India's ports and shipping sectors.

India's maritime sector stands on the brink of significant expansion, as the government encourages private shipyards to tap into lucrative shipbuilding opportunities. Union Commerce and Industry Minister Piyush Goyal, addressing the 12th Biennial International Conference on Ports, Shipping & Logistics via video conferencing, underscored the need for enhanced participation in Indian-flagged vessel operations, which remains underutilized despite the potential for cabotage to stimulate the domestic market.

Goyal called on industry stakeholders to advise the government on policy improvements that could ease India-based vessel registration. The minister stressed the potential for employment growth through the training of seafarers in a hybrid learning ecosystem. Goyal also pointed to key areas such as container manufacturing and port decongestion as pivotal to the industry's progress.

Hosted by the Bombay Chamber of Commerce & Industry, the conference in Mumbai assessed the logistical blueprint needed to cement India's future as a developed nation. Discussions spanned from geopolitical influences to digital enhancement in ports, with strategies outlined for sustainable growth, particularly through rail and maritime transport integration. Major figures, including former NITI Aayog CEO Amitabh Kant, advocated for cohesive industry-government efforts to elevate India's status as a hub of international trade.

(With inputs from agencies.)