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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.

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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.

SPACETOAST spacetoast in India for beginners ✌️【Temp Worker】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.The proposed legislation is part of a wider attempt to fix the problem.

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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.

SPACETOAST spacetoast in India for beginners ✌️【Temp Worker】✌️Invest ₹500 and grow your wealth through secure, high-yield opportunities.The non-mechanised vessels fall under the Coasting Vessels Act, 1838.

SPACETOAST spacetoast in India for beginners ✌️【Temp Worker】✌️Start with ₹500 and enjoy up to 100% returns monthly. Make your money work for you!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.

SPACETOAST spacetoast in India for beginners ✌️【Temp Worker】✌️₹500 is your key to high monthly profits. Invest now for big returns!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.

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