Indian Maritime sector: an Ocean of Opportunities

Purva Marwaha - 26/06/19

As India grows to be one of the major economies in the world, it will require a vibrant and strong maritime industry to strategically support this growth. India is the 16th largest maritime country in the world and its maritime transport handles around 95% of India’s trading by volume and 70% in value terms.

India’s strategic location along most major shipping highways, with a vast coastline of 7500 km, endorses the growth of a Blue Economy in a sustainable, inclusive and people centred manner.  India is developing its maritime infrastructure as well as its inland waterways and coastal shipping through the launch of several major initiatives such as the Sagarmala project, ports modernization and Inland Waterways & Coastal Shipping development, which will revolutionize maritime logistics and port led developments in the country.

India’s ambitious Sagarmala programme has identified 600 plus projects entailing huge investment of around 120 billion dollars by the year 2020. This will save nearly 6 billion dollars per annum in logistics costs besides creating 10 million new jobs and boosting port capacity by 800 MMTPA to an overall 3500 MMTPA.

Coastal Economic Zones (CEZs) are being developed under Sagarmala with a proposed investment of 150 Million dollars per location. These CEZs will thus foster blue economy wherein industries and townships that depend on the sea and contribute to global trade through sea connectivity are envisaged.

The Indian Navy too, is giving a strong push to the Make in India initiative as it strives for self-reliance in the production of warships. Also, in view of the recent regulations to control emissions from ships set by International Maritime Organization, there will be a growing need to collaborate for environment-friendly technology & solutions, such as LNG powered vessels, as well as green ports.

In the pursuit of these endeavours, another key area is training & development of manpower, university partnerships to encourage innovation, knowledge sharing and transfer through partnerships and technological assistance from maritime countries to orient the workforce towards world-class manufacturing techniques and processes.

Keeping this ambition of India in mind, Business France in partnership with the maritime cluster, will be organising a Maritime days event focusing on important sub-sectors like port infrastructure development, port modernisation, shipbuilding, waterways etc. This program is scheduled to take place in November 2019. If you wish to collaborate with us for this event, please write to zaver.mistry@businessfrance.fr

 

 

Sources : Business Standard, Forbes India

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Infrastructure, Transport and Industry (Industries and Cleantech) The Industries and Cleantech Department assists French companies in their international development strategy and promotes trade between France and India. In order to maximize commercial opportunities between French and Indian companies, the Department organises French Pavilions at a number of key exhibitions in India, as well as offering other B2B networking events and individual partnering services. The key focus of the department are the urban development (“100 smart cities”), the clean technologies (Renewables Energies, Energy efficiency…) and the industry (automotive, aeronautics, railways…). The Department provides expertise in : • Transportation (automotive, railway, aeronautics, naval, ITS) • Infrastructures (roads, airports, ports, etc.) • Energy  (Nuclear, Renewable Energy, T&D, O&G) • Cleantech (water and waste management)  &nbs

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