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
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
