Page 12 - Layout 1

Regional Focus

India

India sees booming ship

supply market

T
he takeover of the new Indian Government last year has opportunities for International business and trade. The
resulted in signiicant development in the shipping industry, number of ports, both major and minor has increased

says Director of Global Marine Supply Ajay Joseph.compared to the last year’s statistics.”
He said the recent growth has led to more opportunities One of the major initiatives that has been introduced by

for international business and trade, leaving the ship supply the new Government is that most of the major ports have been

market booming.installed or launched with ‘free economic zones,’ which focuses
Mr Joseph said: “The Indian ship supply market has always on giving tax relief to the expert sector.

had a vast scope for business since its origin. With globalisation “This in turn promotes more vessels for export and import
and industrialisation the current ship supply market in India is business. The higher the number of vessels coming into India,

booming at a rapid rate. The development of new ports has led the more business opportunities there are for the Indian ship
to a large scope of business for ship supply companies like us.supply market,” said Mr Joseph.

“With the takeover of the new Indian Government Another signiicant improvement in the ship supply
last year, there has been a significant development in market is that more and more ship owners and management

the shipping industry which in turn has led to growthcompanies prefer to procure the stores from India, which

10 The SHIP Supplier Issue 67 2015