India 2018

Transport 507
major ports. Indian shipping industry has over the years played a crucial role
in the transport sector of the economy. Approximately 95 per cent of the country's
trade by volume and 68 per cent by value is moved through maritime transport.
Therefore, shipping and ocean resources, ship design and construction, ports
and harbours, issues relating to human resource development, finance,
ancillaries and new technologies need to be developed in the light of the
emerging scenario. Shipping continues to remain unchallenged as the world's
most efficient means of transportation and there is a need to recognize, reward
and promote quality within the industry.
Sagarmala Programme
To harness the coastline, 14,500 km of potentially navigable waterways and
strategic location on key international maritime trade routes, the Government
of India has embarked on the ambitious Sagarmala Programme to promote
port-led development in the country.
Shipping Industry
Shipping industry is one of the most globalised industries operating in a highly
competitive business environment that is far more liberalized than most of the
other industries and is, thus, intricately linked to the world economy and trade.
Shipping plays an important role in the transport sector of India's economy
especially in Exim trade. Approximately 95 per cent of the country's trade in
terms of volume and 68 per cent in terms of value is moved by sea.
India's shipping tonnage was only 1.92 lakh Gross Tonnage (GT) on the
eve of independence. India has one of the largest merchant shipping fleet among
the developing countries and ranks 17th amongst the countries with a cargo
carrying fleet of 10.88 million G.T. as on September 30, 2017 and with the average
age of the fleet being 18.03 years. The maritime sector facilitates not only
transportation of national and international cargoes but also provides a variety
of other services such as cargo handling services, shipbuilding and ship
repairing, freight forwarding, light house facilities, training of marine personnel,
etc.
The salient features of India's shipping policy are the promotion of national
shipping to increase self-reliance in the carriage of country's overseas trade
and protection of stakeholder's interest in Exim trade.
Ship Building
Global recession in the shipbuilding industry has affected the financial position
of a number of yards, especially in the private sector. Due to market downturn
post 2008 all shipyards other than the defence are facing challenging times,
with very few global shipbuilding orders coming in. The Indian shipbuilding
industry has continued to concentrate on defence, coastal and inland vessels.
The fleet expansion plans of Indian Navy and the vessels for the Indian Coast
Guard are the two prime segments which were targeted by the Indian shipyards.