Goyal Explores Indian Shipping Opportunities
News: Commerce and Industry Minister Piyush Goyal met Singapore’s Deputy PM Gan Kim Yong to discuss strengthening bilateral trade and investment, with a focus on India’s shipping sector.
Goyal highlighted India’s vast opportunities across sectors, especially maritime logistics, amid efforts to reduce logistics costs and boost trade.
The meeting aligns with India’s broader strategy to scale up shipping capabilities following disruptions like the Red Sea crisis. To support this, the government announced the Maritime Development Fund (MDF), aiming to boost Indian-flagged ship share to 20% by 2047.
The MDF will offer financial support for fleet expansion and targets ₹1.5 lakh crore investment by 2030, reinforcing India’s position as a global shipping and trade powerhouse.
Source: Logisticsinsider
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