INDIA – the 16th largest Cargo carrying fleet of the present world.

Cargo – on the very first ear to this word or the sight of the same an image created in your mind would be that of a huge vessel carrying goods. As unknowingly knowing you have learned that shipping has been a major contributor to the world commerce. Approximately 95% of our country’s trade volume is moved by sea. India has one of the largest merchant shipping fleet among the developing countries and ranks 16th amongst the countries with the largest cargo carrying fleet. Indian maritime sector facilitates not only transportation of national and international cargoes but also provides a variety of other services such as cargo handling services, shipbuilding and ship repairing, freight forwarding, light house facilities and training of marine personnel, etc.

 

It is estimated that cargo traffic of petroleum, oil & lubricants (POL), the largest commodity handled by major ports, is expected to grow by 4.1% in 2013-14. The growth is likely to be backed by an increase in crude oil imports and petroleum product exports. On the same lines cargo traffic of containers is expected to grow by 2.3% to 122.5 million tonnes in 2013-14. This will boost an increase in the foreign trade volumes of commodities like automobiles (passenger cars, multi-utility vehicles and three-wheelers), capital goods, textiles (yarn, cloth and apparels), electronic goods and agro-products.

National shipping has made a significant contribution to the foreign exchange earnings of the country. India’s national flagships provide an essential means of transport for crude oil and petroleum product imports. India, with her 7,517 km long coastline studded with 13 major ports and 200 non-major ports provides congenial and favourable conditions for the development of this sector. Further cargo traffic is predicted to reach 1,758 MMT by 2017.

The road way to this goal would yield better results when all hands of related business sectors come closer and work cordially as this will create a win – win situation for all stakeholders in the long run.