Eng
India’s government is considering setting up a national container shipping line to ease local shippers’ dependence on foreign-flagged carriers, reports The Loadstar. About USD 3 billion is allocated for the plan.
According to the news source, Bharat Container Line – the expected name of the new line – will have around 100 ships purchased and on charter. India’s Ministry of Ports, Shipping, and Waterways cites a target of increasing the share of Indian-flagged ships in the global market to 20% by 2047.
The Federation of Indian Export Organisations (FIEO) has called for exclusive use of Indian-flagged vessels on key routes to make Indian goods more competitive in international markets. This will save India USD 50 billion a year and will also significantly ease the pressure exerted by foreign-flagged carriers on medium and small businesses, FIEO says.
However, The Loadstar, citing its sources, notes that industry experts are somewhat sceptical about these plans of India’s government, adding that the project should not be expected to materialise quickly.