Avijit Bajpai
The shipping ministry of the nation is considering a proposal, going by which the Indian flag vessels will be able to ferry a major chunk of export and import trade commodities. This move will also ensure a specific minimum level of employment for the domestic participants, a much-needed support in the present times of turbulence.
The ministry is carrying out the needed rounds of talks with other industries to check the viability of this cargo reservation policy. This decision is similar to what already exists in US, China and Canada.
This policy will not only help the players of shipping industry in easily accessing the equity and loans but also go into bringing back the lost confidence of investors regarding the long-term growth of this sector.
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