Commerce and Economy

India is blessed with a rich maritime heritage, to shape Indian maritime sector into a robust engine of nations development top priority must be given to port-led development. There have been discussions and deliberations about taking concrete measures to add pace to capacity building and enhancing efficiency of the sector with the favourable policies and reforms. India certainly needs to work towards ease of doing business, creating modern infrastructure of global standards to ensure modern multi-model connectivity and to strengthen its position in the global maritime scenario. For achieving global credibility India needs to focus on four areas:
 

•    Developing Indian Controlled Tonnage
•    Increase India’s insurance capacity for the maritime sector
•    Set-up Indian Maritime Arbitration body for International maritime disputes
•    Establishing India as a hub for bunkering activities 

 

Outcomes of the Session - An overview

Controlled Tonnage

India has potential to develop International standard Maritime Clusters with immense strategic benefits including reputation enhancement, knowledge hotspots and employment at all levels. India needs to work on creating a level playing field and adding capacity.







 

Indian Arbitration Body

Maritime arbitration is an efficient and effective method of resolving maritime disputes. Maritime disputes are technical, commercial, and global in nature and is required to be accepted by stake holders involve in maritime international trade. India has a long tradition of arbitration, such as the settlement of differences by tribunals agreed-upon by the involved parties. There is certainly a need to build upon this tradition and advance the Maritime Arbitration status of India in the world.

Risk   Management

Shipping is an extremely capital intensive and cyclical sector. A shipowner assumes a significant level of risk. Aiming towards leasing assistance for shipowners may be a sensible course of action, but ship leasing is a commodity that is still in its early stages, and there is inherent risk attached with it. In India, marine insurance is one of the least known sectors of the shipping and port industries. 

Development Prospects

The below development prospects are as a result of the IMRC 2022 symposium sessions and protected by the IMRC team. If you are a researcher who wishes to pursue any project as part of your graduate thesis, undergraduate thesis, PhD, or profession, you can apply with IMRC to do the same.

 

To apply, email us your name, email ID, institute name, background, purpose, contact number along with a one-page synopsis on your project of choice. IMRC will vet all applications. Selected candidates will commence the project with full support of IMRC, registered ISSN publications and IMRC's industry partners. 

Watch or read on the full session

Book and Coffee at Home

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Post Production Video Editing

Watch the session

Moderator and Assimilator

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Mr. Bhabani Sankar Rath

Chief Executive, Premier Insurance Brokers Limited

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Mr. C V Subba Rao

MD, Sanmar Shipping Ltd

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Mr. Shardul Thacker

Partner at Mulla & Mulla & Craigie Blunt & Coroe, Advocates, Solicitors & Notaries

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Mr. Sanjiv Singh

Head, Marine, Aviation & Specialty at General Insurance Council

Meet the Contributors

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Mrs H. K. Joshi

CMD, Shipping Corporation of India

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Mrs Vandana Aggarwal

Chairperson, IFSCA Committee on Ship Acquisition, Financing and Leasing, Government of India.
(Former Senior Economic Adviser, Ministry of Civil Aviation)

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Capt S. R. Patnaik

CEO, International Shipping & Logistics FZE Dubai

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Capt Pankaj Kapoor

Indian Law Offices

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Mr Jagmeet Makkar

IME(I) Chair, IMU; Ambassador, Asia BEWA; Board Director, GlobalMET; Chairman, ICS-HK; Advisory Board, GIMAC (GMU)

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Dr Sanjay Bhavnani

Director and Chief Operating Officer, MMS Maritime

The Library

Marble Surface

Plastic pollution of the world’s seas and oceans as a contemporary challenge in ocean governance

Marble Surface

A study of the size of nuclear fuel carriers, the most required ships for safety : how large can ship's tonnage be?

Marble Surface

Tonnages - Medieval and Modern

Marble Surface

Maritime security and the Blue Economy: intersections and interdependencies in the Indian Ocean

Marble Surface

The impact of regional environmental regulations on empirical vessel speeds

Marble Surface

Ships as Workhorses of Energy Trade

Marble Surface

Economies of Large Scale Ships

Marble Surface

Econometric Analysis of Bulk Shipping: implications for investment strategies and financial decision-making

Marble Surface

Shipbreaking at Alang–Sosiya (India): An ecological distribution conflict

Marble Surface

India - Pakistan Trade

Marble Surface

Challenges in global ballast water management

Marble Surface

A Scientific Approach to Measure Shipbuilding Productivity

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IMRC Partners and Patrons
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