Being a part of the world's busiest trade route elevates the economic prominence of India's maritime sector. About 95% of India's foreign trade and 70% its total trade in terms of value takes place through seaways. Today, India is home to 12 major ports, over 200 other ports, 30 shipyards and a comprehensive hub of diverse maritime service providers. India has one of the largest merchant shipping fleets among the developing countries and is ranked 20th in the world. India's maritime sector is poised for a significant transformation following the unveiling of a comprehensive roadmap at last year's Global Maritime India Summit organised by Ministry of Ports, Shipping & Waterways with FICCI as the Industry partner. India is strategically located on the world's shipping routes with a coastline of approximately 7,517 km. Maritime transport handles around 70 per cent of India's trading in value terms. During the last financial year, the country's major ports have demonstrated substantial enhancements in their crucial operational metrics. They have efficiently managed increased cargo volumes and expedited loading and unloading processes, resulting in quicker ship turnaround times.
KEY THEMES OF THE CONFERENCE |
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INDIA MARITIME SECTOR |
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Established in 1927, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. www.ficci.in
