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Editorial: Let the New Year Usher in Bright Days for the Maritime Trade

Port Wings, 26 December 2018:

2018 is bidding goodbye and 2019 is before you with its usual hide-and-seek. India, as a developing force in the global arena, has utilized much of the opportunities she came across in the last 12 months to build Brand India.

Prime Minister Narendra Modi, unlike his predecessors, used his office to reach every nook and corner of the globe, be it to those countries, which deserves visit of External Affairs Minister or any cabinet ministers, and made a resurgence of Brand India that was eroded many centuries ago.

While the Prime Minister’s visit to 59 economically viable and highly-business potential countries in the past and built the Brand India, the conversion of visit into business hasn’t happen as anticipated by the pundits in Dalaal Street.

After the continuous falling of exports for many months, there seems to be some recovery, but it is not enough to pull the gigantic wheel of trade. On the other hand, the hard fact that keeps on echoing before the Prime Minister that the visits are not yielding any substantial results to Indian industries yet.

India logistics industry has witnessed a trajectory of growth over the years.

The logistics industry in India is anticipated to reach a new level in the coming years and in 2019, the government has to lay the path from where the industries could reach the target.

It is heartening to know that the Union Government has constituted a Logistics Development Committee to prove its determination to implement more reforms to create a smooth and an efficient environment across the logistics value chain.

 The growth would largely be due to an improving logistics infrastructure in the form of the development of freight corridors, logistics hubs and warehouses, port development and technology up gradations.

GST, which was introduced in July 2017 to promote sweeping changes in the way business being conducted in the country over the last seven decades, is yet to prove its mettle in the Indian business system.

India has a coastline spanning 7516.6 kilometers, forming one of the biggest peninsulas in the world. It is serviced by 12 major ports and over 180 non-major ports. Besides, the country has about 50-odd cargo-handling airports spread across the nation.

India, eventhough remained a maritime superpower in the early centuries, still lacks modern port facility to accommodate or dock larger vessels that are outnumbering the tradition 4000-TEU capacity vessels.

On the other hand, our country also lacks a dedicated airport for aircargo handling like the western countries.

It would be better if the Government of India dwells on these lines and make our country more competitive in the international market in 2019.

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