India & US: En­hanc­ing co­op­er­a­tion in mar­itime

Cargo Talk - - Front Page -

India and the US have agreed to deepen the scope of co­op­er­a­tion in the mar­itime sec­tor with the Amer­i­can ports evinc­ing keen in­ter­est in com­pre­hen­sive por­tled de­vel­op­ment, es­pe­cially in the Sa­gar­mala pro­gramme.

The 150 projects un­der this pro­gramme have the po­ten­tial of mo­bil­is­ing $50-60 bil­lion of in­fra­struc­ture in­vest­ment and an­other US$ 100 bil­lion of in­vest­ment for in­dus­trial growth.

Nitin Gadkari, Union Minister of Ship­ping, Road Trans­port and High­ways of­fered in­vest­ment op­por­tu­ni­ties in build­ing and de­vel­op­ing new ports, con­struc­tion of new berths/ ter­mi­nals in ex­ist­ing ports, coastal eco­nomic zones, dredg­ing, ship build­ing, ship re­pair­ing, ship re­cy­cling, de­vel­op­ment of in­land wa­ter­ways and coastal and cruise ship­ping in dis­cus­sions with the rep­re­sen­ta­tives of Har­bor Depart­ment of City of Long Beach.

The ship­ping minister out­lined the reg­u­la­tory as­sis­tance which the Naren­dra Modi govern­ment has of­fered to the mar­itime sec­tor, in­clud­ing grant of in­fra­struc­ture sta­tus to ship­yards, sup­port­ive do­mes­tic el­i­gi­bil­ity cri­te­ria for In­dian ship­yards for as­sured ship re­pair or­ders, ser­vice tax ex­emp­tion on ship re­pair ser­vice for for­eign go­ing ves­sels, set­ting up of ship re­pair­ing busi­ness im­me­di­ately with­out any ap­proval from direc­tor gen­er­als.

Gadkari was briefed about the higher con­tainer traf­fic at the Port of Long Beach fu­elled by ris­ing im­ports. More than 2,000 ves­sels call at the Port of Long Beach each year, mov­ing US$ 180 bil­lion in cargo.

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