Radical Overhaul Of Shipping Laws

India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million. Of these, 487 vessels are engaged in overseas trade

- SANJEEV SANYAL AAKANKSHA ARORA

OUR BILLS RELATED to the shipping sector were listed during the winter session of Parliament. These bills mark a significant step forward in the development of India's shipping sector – crucial not only for economic growth but also for national security.

Discussions about this sector often focus on the logistics and efficiency of ports, which are undeniably important – but ships are equally vital. India unfortunately lags behind in all the areas of shipping – ownership, shipbuilding, and flagging. India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million. Of these, 487 vessels are engaged in overseas trade. India is at the 18th position with 1.2% of the global shipping capacity.

Further, only 0.77% of the world's ships are registered under the Indian flag. Additionally, India has an almost negligible presence in shipbuilding, with only 0.07% of the global market share. China dominates the industry with 46.6% of shipbuilding measured by gross tonnage, followed by South Korea at 29.2%, and Japan at 17.2%.