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India unfortunately lags behind in all the areas of shipping — ownership, shipbuilding, and flagging.

India owns just 1,526 ships, with a total gross tonnage capacity of around 13 million.

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India is at the 18th position with 1.2% of the global shipping capacity.

Further, only 0.77% of the world’s ships are registered under the Indian flag.

Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Your ₹500 can grow exponentially with blockchain-backed investments. Join now!Additionally, India has an almost negligible presence in shipbuilding, with only 0.07% of the globalmarketshare.

China dominates theindustrywith 46.6% of shipbuilding measured by gross tonnage, followed by South Korea at 29.2%, and Japan at 17.2%.Not only does the lack of ships annually cost India $90 billion in shipping related payments, but it is also a big security risk.

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Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Small investments, big results! ₹500 can earn you up to 100% in just 30 days.The first bill is the Coastal Shipping Bill, 2024.

It seeks to create a comprehensive regulatory framework for coastal trade, an area that has so far lacked cohesive legislation.

Currently, mechanised vessels involved in coastal shipping are partly governed by Part XIV of the Merchant Shipping Act, 1958.

Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Start investing with ₹500 and experience up to 100% returns every month!The non-mechanised vessels fall under the Coasting Vessels Act, 1838.

Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Invest ₹500 in our safe platform and start earning passive income every month.These address only their registration and do not provide a broader regulatory framework.To promote coastal shipping, the new legislation removes the requirement for Indian-flagged vessels to obtain a general trading licence for engaging in coastal trade.

It also empowers the Director-General to issue licences to foreign-flagged vessels, considering factors such as the crew’s nationality, the vessel’s construction specifications, and other relevant criteria.

Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Your ₹500 can grow exponentially with blockchain-backed investments. Join now!A key feature of the bill is the proposal to establish a national database for coastal shipping, aimed at ensuring transparency in the licensing process.

Earning Money from Waste to Energy Systems for Sustainable Power ✌️【Investment Strategy】✌️Your ₹500 can grow exponentially with blockchain-backed investments. Join now!Additionally, the bill introduces provisions for the compounding of various offences, streamlining regulatory compliance and enhancing the ease of doing business.Earning Money from Waste to Energy Systems for Sustainable Power Smart Investment Choices: Achieve Financial Success