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.
