Indian Government Aims to Boost Indian Flagged Ships in Global Maritime Trade

The Indian government is aiming to increase the number of Indian flagged ships by ten times to enhance the country’s presence in global maritime trade. Currently, India has around 1,500 registered vessels with the majority engaged in coastal trade, while others operate on overseas routes. The Shipping Ministry is working on plans to achieve this goal, with a focus on increasing the number of overseas vessels to align with the expected growth in export and global trade.

In comparison, China has over 5,000 flagged ships and significant orders for new vessels in the pipeline. The government is keen to maintain and grow the presence of the Shipping Corporation of India (SCI), the largest Indian shipping company, as part of its strategic importance in the sector. The decision to defer the proposed disinvestment of SCI is aligned with the goal of increasing the fleet size and global presence of Indian vessels.

Despite the presence of Indian flagged vessels, most are currently engaged in local trade, prompting a push to expand the number of overseas vessels. Additionally, there is a concern about the large number of ageing ships in India’s overseas fleet, with 184 of the 486 vessels being over 20 years old. The government is looking to address these challenges as part of its efforts to boost India’s position in global maritime trade.

Source .