Government committed to bring down logistics cost to world average of 9% within 5 years: Union Shipping Minister

Mumbai: The Union Shipping Minister Shri Mansukh Mandaviya inaugurated the 70th Foundation Day celebrations of Directorate General of Shipping (DGS) in Mumbai today. Addressing a conference on “Indian Maritime Administration, 70 years – The Vision Ahead”, organized by DGS, the Minister said that the maritime sector has a pivotal role to play in the making of a New India. He said that the Government is committed to bring down the logistics cost of Indian industry from 14% at present to the world average of 9%, within five years. He said that this will help increase our exports by 25%, and bring down price level by 2.5%. The event was organized at the Maritime Training Institute of Shipping Corporation at Powai in Mumbai, on September 3, 2019.

The Minister told various stakeholders of the maritime industry that coastal shipping, ship repair and maintenance, cruise tourism and inland waterways are opportunities that need to be capitalized. Inland waterways and coastal shipping can help reduce the cost of public transportation as well, said the Minister. Highlighting the importance of adaptation and innovation in solving problems, the Minister exhorted the industry to not be threatened by technology; he said that technology creates opportunities as well and that competition needs to be faced courageously, it being the key to success.

Shri Mandaviya informed that he is in talks with the Union Finance Minister on bringing down the cost of capital, especially for shipbuilders and coastal shipping players. He added that the government is considering to allow Indian entities the long-term charter to operate foreign ships; he said this will support small entrepreneurs and develop coastal shipping. He assured the industry that the government is stable, industry-friendly and supports wealth creators, as the Prime Minister pointed out in his Independence Day 2019 address. He exhorted the audience to embrace continuous learning, which will lead to reform, innovation and better outcomes.

Earlier in the morning, the Minister inaugurated a course titled, Proficiency in Survival Craft and Rescue Boats (PSCARB), to be conducted by Maritime Training Institute, SCI.