Ship Born Trade Plays A Major Part In Overall Trade Of India

The country has the largest merchant navy fleet among the developing countries. By the latest data, the 90 % of Indian trade by volume goes through sea. The foreign shipping countries also take the trade out of the countries which has led the indian shipping countries to go for rapid modernization in ships and at terminals.

The Indian shipping industry International Parcel Service In Borivali is poised to grow rapidly in the coming years. The government has started the sagar mala project to construct ports along the long coastal line of india. The construction of major and minor ports along the coastal line would enable the companies to take India shipping for international trade. The government has also given permission to companies to acquire the ships under open general license. This would enable the companies to buy the ships at competitive rates.

The open general license route is also provided for barges, tugs and boats so that more and more indian licnese holders are operating in the indian sea born trade. The shipping companies are also given the permission to retain the sale proceeds of their ships in foreign countries and use that amount for more acquisition. The government also believes that the foreign direct investment up to 74 % in the shipping companies would enable them to compete with the best foreign companies and retain the Indian trade in the hands of Indian shipping companies.

Going forward, the growing economy of the country would facilitate the growth of shipping industry. As the country still is a major players in the import of the energy needs, the demand for large crude oil tankers, liquefied natural gas will increase the volume business for shipping companies in India. The growing manufacturing base of the india companies also means that more and more engineering goods will be parceled on ships to distant lands.

It would suite indian companies to go for foreign tie ups with foreign shipping companies and built strategic links with countries that are major trading partner of India International Parcel Service In Bandra. The Indian companies have to become more competitive so that the more India bound trade and trade from India is carried on Indian flag ships. At present only small percentage of the Indian trade is being carried out by the Indian flag ships. There is huge scope for growth in that space.