The maritime sector in the country is poised for major growth as the Centre has initiated steps towards this direction, said Union Minister of State for Shipping Pon Radhakrishnan. He was inaugurating a building at the Indian Maritime University´s Kochi campus.
He said that the BJP government acknowledges the crucial role that shipping can play in boosting the country´s economy. ´The vision of the government includes increasing India´s share in global shipping to 5 per cent, doubling the capacity of Indian ports in five years, establishing new ports and transhipment hubs and increasing cargo movement on national waterways four times in five years,´ Radhakrishnan said.
The minister said that the sector has the potential to increase the country´s competitive advantage in the global market. He added that the Centre realises that the sector can boost employment, infrastructure development and long-term, sustainable growth.