Government Aims to Increase India’s Share in Total Freight by 2020
Posted on: 12/Dec/2014 9:57:06 AM
The Minister of State for Shipping, Shri Pon. Radhakrishnan informed the Lok Sabha that the Maritime Agenda 2010-2020 has set an ambitious target of achieving 43 million gross owned and controlled tonnage under Indian flag by the year 2020 so as to increase India’s share in total freight.
The Indian National Shipowner Association has informed that total sea freight being paid by India is estimated at about US$ 50 billion in financial year 2014. Around 90% of the Indian EXIM Trade is carried on board foreign flag vessels. The Ministry of Shipping has impressed upon user Government Departments/Public Sector Undertakings including Oil Marketing Companies to provide cargo support to Indian shipping companies through long term contracts.
