How important is national maritime development programme for the shipping industry?
In today’s global, liberal scenario it is international trade which drives the growth of any national economy and in turn, global economy. Also, if the country’s economy is growing at 9 per cent, exim trade usually grows at three times the country’s economic growth, that means, growing almost at 27 per cent. In India, we are talking of our growth rate of 8+ per cent. The prime minister is talking of growth rate to be enhanced to 10 per cent; that means exim trade has to grow phenomenally. Exim trade can’t grow unless there is major escalation in maritime capacity and infrastructure. These include ports, ship building and shipping. National Maritime Development Programme from the department of shipping, ministry of shipping, road transport and highways are related to the development of maritime sector. What are the problems plaguing the industry? Indian shipping, particularly, in mid-80s, used to carry more than 40 per cent of exim trade. Today, that has dropped to 12 per cent. Because
