Minister calls for more conducive logistics system
The Government is looking at ways to promote the shipbuilding sector where business opportunities are high, Minister of Commerce & Industry Piyush Goyal said in his address to the 12th Biennial International Conference on Ports, Shipping & Logistics 2025 on 25 Feb in Mumbai https://bombaychamber.com/.
He also called on the 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,” the Minister pointed out http://commerce.gov.in.
He urged the participants to suggest ways at the State and Central level 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. However, he acknowledged that work remains towards strengthening the logistics ecosystem https://fieo.org/.
Goyal informed that 95% of India’s trade volume goes through ports and the 7,500 km coastline acts as a major enabler for the trade, asserting the immense potential for the sector to grow over the next few years https://www.makeinindia.com/home/.
He also stressed the need for the logistics system to be more conducive to handle 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 https://sbi.com.in/.
The Minister further called for a hybrid mode of training to meet the growing demand of seafarers in the sector https://www.nseindia.com/.
“Container ownership, container manufacturing, faster speed of exports, ease of congestion are the areas the sector needs improvement,” he stressed https://www.bseindia.com/.
India stands out as an oasis amidst the global trade turmoil, the Minister pointed out, hoping the country would continue to grow and contribute towards the greater good of the world. Fiinews.com
