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Look East’ Policy, VCIC to create window of opportunities: |
 The two-day East Coast Maritime Business Summit concluded here on Friday with the participants from the shipping industry exuding confidence that the Visakhapatnam-Chennai Industrial Corridor and Prime Minister Narendra Modi’s focus on ‘Look East’ Policy would throw up lot of opportunities for increasing maritime trade.The conference – the fourth edition of the summit -- was organised jointly by the Visakhapatnam Port Trust, Visakha Container Terminal Pvt. Ltd, Maritime Gateway, a monthly magazine, and others.
Chairman and Managing Director of Hindustan Shipyard Limited Rear Admiral L.V. Sarat Babu described shipping as most cost-effective eco-friendly industry and pointed out that almost 80 per cent of cargo was being transported through sea route.
He said with the Centre holding the public and private shipbuilding on the same footing, competition was inevitable and there would be several opportunities for shipbuilding of various tonnages and displacements.
The worldwide slump notwithstanding, India’s GDP was growing well, he said and adding the volume and value of consignments was bound to grow in future.
Commenting plans for diversification of maritime sector, he said India should draw lessons from how China and Korea could become global leaders in shipbuilding.
Visakhapatnam Port Deputy Chairman P.L. Haranadh said of total cargo of 1,050 million tonne handled last year, East Coast could get just 40 per cent. He said there huge potential to raise the share compared to West Coast at a bigger scale due to huge hinterland spreading up to parts of Bihar and Madhya Pradesh.
He said the Vizag cluster was bound to emerge as a new manufacturing hub due to VCIC and PCPIR projects. By promoting coastal shipping in big way, India could successfully compete with China, Japan and the United States in handling coal and other cargoes.
He said Visakhapatnam Port was investing nearly Rs.3,000 crore in augmentation of facilities and modernisation in next two years to increase its capacity from 93 million tonne to 124 million tonne.
It had also set up a business development team to improve efficiency parameters based on the recommendations of the Boston Consulting Group (BCG).
Chief Advisor of Electrons Shipping Ltd Sabyasachi Hajaria, CONCOR Director (Projects) V. Kalyanarama, Federation of Indian Exports Organisation Port & Logistics Committee Walter D’Souza and chief organiser of summit Ramprasad spoke.
Fourth edition of East Coast Maritime Business Summit concludes |
Read More On: east | policy | vcic | window | |
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