1.1 The Role of Shipping in India's Growth

Shipping is not merely a mode of transportation but a key enabler of industrialization, globalization, and economic resilience. The strategic importance of shipping for India can be broken down into multiple dimensions:

1. Enabling International Trade: India’s economic growth story paced through both legs, with huge domestic appetite and growing exports over time. India’s trade volumes have grown exponentially over the past decades. As a global player, the country’s economic future is intertwined with its maritime infrastructure. Shipping provides the logistical support necessary for exports and imports, ensuring Indian products reach global markets and essential goods like crude oil, machinery, and technology are imported seamlessly.
2. Supporting Industrial Growth: The maritime sector plays a crucial role in supporting the domestic manufacturing and agricultural sectors. By providing a cost-effective and efficient means of transportation, shipping enhances the competitiveness of Indian industries in global markets.
3. Boosting India's Tonnage: As part of India’s growth strategy, increasing the number of Indian-flagged vessels and expanding gross tonnage is critical. By boosting Indian tonnage, the country can reduce reliance on foreign-flagged ships, ensuring a stable and resilient supply chain, even in times of geopolitical crises.