Government aims to add 100 ships to reduce $75 billion foreign shipping costs
Union Minister Sarbananda Sonowal announced that India intends to expand its merchant fleet by 100 vessels over the next five years to decrease dependency on international shipping companies. According to Minister of State Shantanu Thakur, India currently spends approximately $75 billion every year on foreign carriers to transport commodities like urea, coal, gas, and crude oil. At present, operating ships under the Indian flag is 16-20% more expensive compared to using foreign vessels.
by shortkt.com✓