India Bullish on Maritime Industry
For the development of maritime sector in the country, India has rolled out some important projects and signed MoUs, asscording to the Ministry of Shipping.
India signed an MoU with Iran for developing Chahbahar Port. An SPV, Indian Ports Global Ltd has been formed with equity participation from Jawaharlal Nehru Port and Kandla Port to execute the project.
Ministry of Shipping has prepared a vision for coastal shipping, tourism and regional development to increase the share of coastal/IWT mode from 7% to 10% by 2019-20. An action plan to achieve the objective has also been prepared and is being implemented.
The key elements of the initiative include development of coastal shipping as an end-to-end supply chain, integration of IWT and coastal route, development of regional centers to generate cargo for coastal traffic, development of domestic cruise industry and promotion of lighthouse tourism.
An MoU was signed with Republic of Korea to promote bilateral cooperationin maritime transport.
India signed an agreement on coastal shipping with Bangladesh. This agreement would allow River Sea Vessels (RSV) to carry cargo between the two neighbours. In terms of berthing charges and light dues, both the countries would extend national treatment to one another.
The commencement of coastal shipping between the two countries would give a boost to Exim trade between India and Bangladesh. The two countries also signed the Standard Operating Procedure (SOP) to operationalize the “Agreement on Coastal Shipping.
India and Bangladesh have agreed on the extension of Protocol on Inland Water Transit and Trade (PIWTT) with the provision of automatic renewal in line with the proposed amendment to the Bangladesh-India trade agreement during a Secretary-level talk between the two countries.
The Union Cabinet has given its approval for signing a Memorandum of Understanding (MoU) between India and Spain on cooperation in Port matters.
The Cabinet has also approved signing of a shipping agreement between India and Jordan. Recognizing the significant mutual benefit that can be derived from cooperation in the area of shipping between the two countries, it has been decided to sign the agreement with a view to strengthening cooperation and to provide sustained mutual assistance and advice on merchant shipping and other related maritime matters.
The Union Cabinet has given its approval for signing of an agreement between India and Egypt on Maritime Transport. Recognizing the significant mutual benefit that can be derived from-cooperation in the area of shipping between the two countries, it has been decided to sign the Agreement with a view to strengthening cooperation and to render sustained mutual assistance and advice on merchant shipping and other related maritime matters
