Vizag MP For Relying Less On Foreign Ships To Reduce Cost

Visakhapatnam: In a strong endorsement of India's maritime trade reforms, Visakhapatnam MP M Sribharat has called for certain reforms in the shipping sector to reduce the cost of transport for the exporters and importers. Supporting certain bills in Parliament, Sribharat, who is the President of GITAM deemed to be university, said it is significant in providing a robust legal framework to adapt to the constantly evolving landscape of international trade. He reiterated the NDA Government’s commitment to strengthening the maritime sector, highlighting key achievements such as the doubling of cargo handling capacity at major ports, nine Indian ports ranking among the top 100 globally, and a notable reduction in turnaround time. The MP underscored the critical role of the shipping sector in trade and proposed several key measures to enhance India’s maritime capabilities and raised concerns about rising freight costs, which impact trade competitiveness, and urged the government to take measures to reduce shipping expenses. Sribharat pointed out that nearly 95% of India’s international cargo is transported on foreign vessels, stressing the urgent need to develop shipbuilding clusters to manufacture large "mother ships" and reduce dependence on foreign carriers.