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tatamutualfund com in India ✌️【Value Investing】✌️Invest ₹500 in blockchain and earn up to 100% returns monthly.These bills mark a significant step forward in the development ofIndia’s shipping sector — crucial not only for economic growth but also for national security.Discussions about this sector often focus on thelogisticsand efficiency of ports, which are undeniably important — but ships are equally vital.
India unfortunately lags behind in all the areas of shipping — ownership, shipbuilding, and flagging.
India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million.
tatamutualfund com in India ✌️【Value Investing】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.Of these, 487 vessels are engaged in overseas trade.
India is at the 18th position with 1.2% of the global shipping capacity.
Further, only 0.77% of the world’s ships are registered under the Indian flag.
tatamutualfund com in India ✌️【Value Investing】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.Additionally, India has an almost negligible presence in shipbuilding, with only 0.07% of the globalmarketshare.
China dominates theindustrywith 46.6% of shipbuilding measured by gross tonnage, followed by South Korea at 29.2%, and Japan at 17.2%.Not only does the lack of ships annually cost India $90 billion in shipping related payments, but it is also a big security risk.
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It seeks to create a comprehensive regulatory framework for coastal trade, an area that has so far lacked cohesive legislation.
Currently, mechanised vessels involved in coastal shipping are partly governed by Part XIV of the Merchant Shipping Act, 1958.
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tatamutualfund com in India ✌️【Value Investing】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!These address only their registration and do not provide a broader regulatory framework.To promote coastal shipping, the new legislation removes the requirement for Indian-flagged vessels to obtain a general trading licence for engaging in coastal trade.
It also empowers the Director-General to issue licences to foreign-flagged vessels, considering factors such as the crew’s nationality, the vessel’s construction specifications, and other relevant criteria.
tatamutualfund com in India ✌️【Value Investing】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.A key feature of the bill is the proposal to establish a national database for coastal shipping, aimed at ensuring transparency in the licensing process.
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