Latest News | Govt Looking at Ways to Promote Shipping Sector: Piyush Goyal
Get latest articles and stories on Latest News at LatestLY. Ship-building opportunities in the country are high and the government is looking at ways to promote the sector, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.
Mumbai, Feb 25 (PTI) Ship-building opportunities in the country are high and the government is looking at ways to promote the sector, Union Commerce and Industry Minister Piyush Goyal said on Tuesday.
Addressing virtually the 12th Biennial International Conference on Ports, Shipping & Logistics 2025 here, he also urged the industry to suggest ways to make flagging of vessels in India attractive.
"India has the advantage to allow cabotage of vessels and promote imports coming in Indian flagged vessels permitted within the WTO rules, but does not have enough flagged vessels to take advantage of the regulations", he noted.
The minister urged the participants to suggest ways at the state and central levels to help companies come in flagged vessels in India.
Goyal further stated that India has doubled its port capacity in the last decade and has significantly brought down the turnaround time of ships, adding that the work remains towards strengthening the logistics ecosystem.
Noting that as much as 95 per cent of India's trade volume goes through ports and the 7,500 km coastline acts as a major enabler for the trade, the Minister stressed the immense potential the sector has to grow over the next few years.
He also stressed the need for the logistics system to be more conducive to handling the current traffic at ports.
"Unified Logistics Interface Platform (ULIP) has been introduced to aid logistics, but more ideas are needed to provide the whole ecosystem-linked logistics at ports", he said.
The Minister further called for a hybrid mode of training to meet the growing demand of seafarers in the sector.
Container ownership, container manufacturing, faster speed of exports, and ease of congestion are the areas that need improvement, Goyal emphasised.
India stands out as an oasis amidst the global trade turmoil, the Minister noted, hoping the country would continue to grow and contribute towards the greater good of the world. He pointed out the maritime trade and logistics sector as the backbone of the Viksit Bharat mission.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)