India to be among top 10 global ship manufactures: Sonowal
21 Nov 2024
2 Min Read
CW Team
India will be among the top 10 global manufacturers of ships by 2030, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said. Addressing 'Sagarmanthan - The Great Oceans Dialogue', Sonowal further said the global South will determine the shape of ocean trade in the 21st Century.
"Given that India has the rich talent pool as well as resources to become a major shipbuilding nation, we are aiming to enter the top 10 of shipbuilding countries by 2030 while working our way to become the world's top 5 by 2047," he said. The minister also interacted with technical experts on creating a circular blue economy. According to an official statement, while the session focused on sustainability at sea as a priority, the discussion attempted to hedge solutions around its many challenges.
India's maritime sector serves as the backbone of its trade and commerce, handling around 95 % of the country's trade by volume and 70 % by value. With 12 major ports and over 200 notified minor and intermediate ports, the country's port infrastructure underpins its growing economy.
As the sixteenth-largest maritime nation in the world, India occupies a key position on global shipping lanes. Most cargo ships travelling between East Asia and destinations like America, Europe, and Africa traverse Indian waters, highlighting the nation's strategic importance. The sector's contributions extend beyond trade.
India boasts a fleet of 1,530 ships sailing under its flag as of 2023. Additionally, the country is the third-largest in the world in terms of ship recycling by tonnage. In the financial year 2024 alone, Indian ports managed 819.22 million tonnes of cargo, a 4.45 % rise year-on-year. This growth aligns with a surge in merchandise exports, which climbed to $ 451 billion in FY23 from USD 417 billion a year ago
India will be among the top 10 global manufacturers of ships by 2030, Union Ports, Shipping and Waterways Minister Sarbananda Sonowal said. Addressing 'Sagarmanthan - The Great Oceans Dialogue', Sonowal further said the global South will determine the shape of ocean trade in the 21st Century.
Given that India has the rich talent pool as well as resources to become a major shipbuilding nation, we are aiming to enter the top 10 of shipbuilding countries by 2030 while working our way to become the world's top 5 by 2047, he said. The minister also interacted with technical experts on creating a circular blue economy. According to an official statement, while the session focused on sustainability at sea as a priority, the discussion attempted to hedge solutions around its many challenges.
India's maritime sector serves as the backbone of its trade and commerce, handling around 95 % of the country's trade by volume and 70 % by value. With 12 major ports and over 200 notified minor and intermediate ports, the country's port infrastructure underpins its growing economy.
As the sixteenth-largest maritime nation in the world, India occupies a key position on global shipping lanes. Most cargo ships travelling between East Asia and destinations like America, Europe, and Africa traverse Indian waters, highlighting the nation's strategic importance. The sector's contributions extend beyond trade.
India boasts a fleet of 1,530 ships sailing under its flag as of 2023. Additionally, the country is the third-largest in the world in terms of ship recycling by tonnage. In the financial year 2024 alone, Indian ports managed 819.22 million tonnes of cargo, a 4.45 % rise year-on-year. This growth aligns with a surge in merchandise exports, which climbed to $ 451 billion in FY23 from USD 417 billion a year ago
Next Story
RentenPe and Mygate Partner to Transform Rent Payments in India
Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..
Next Story
Supreme Unveils New Brand Identity to Elevate Lifestyle
Supreme, a respected name in Indian real estate with a four-decade legacy, has announced a complete rebranding. The move includes the launch of a new logo and a revamped website, both reflecting the group鈥檚 refreshed vision to 鈥楨levate Lifestyle鈥�. This brand transformation represents more than a visual refresh鈥攊t marks a strategic shift in the company鈥檚 mission, visual identity and market positioning. The update will be visible across all of Supreme鈥檚 digital, social and offline communication platforms. At the core of the initiative is a renewed focus on purposeful design..
Next Story
Capri Loans Launches #TarrakiKeHaath Campaign Honouring India鈥檚 Everyday Heroes
Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has unveiled its latest brand campaign, #TarrakiKeHaath, a powerful tribute to the everyday hands that build India 鈥� from kirana store owners and taxi drivers to dhaba workers, tailors, and carpenters. Narrated by Capri Loans鈥� long-standing brand ambassador and acclaimed actor Pankaj Tripathi, the campaign celebrates the dignity, resilience, and aspirations of self-employed individuals and small business owners who form the backbone of Bharat鈥檚 economy. Conceptualized by Rediffusion Brand Solutions, the..
