Starboard Strategies - August 31 2015

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Shri Krishna was there, is there and will be there, till universes exist, will destroy themselves and form again. Long live Shri Krishna! Happy Birthday Krishna!

Being capital intensive cyclical industry, shipbuilding sector requires long–term perceptive plan of 50-100 years, which can be sustainable for longer period thus contributing to economic growth of the country. Market volatility and fluctuations should not be allowed to seriously affect this vital industry. In India, shipbuilding sector can’t make progress on five-year plan basis. However, there are huge opportunities in coastal shipping. Being energy efficient, coastal shipping can be developed for smooth movement of cargo along the huge coastline of India. It will also ease traffic congestion at our ports. Building of such coastal vessels in our shipyards under Indian flag, providing world-class ship repair services, development of dredging industry will augment economic growth, which will ultimately boost Indian economy. All these require long-term plans. Each of these opportunities can be executed into a reality with the support of proper policy and regulatory framework in place. Development of this sector will create immense opportunities in education, employment and services related to this field.