India to get Dedicated Shipping Summit

India’s booming maritime industry is to have its first dedicated forum with the launch of the India Shipping Summit to be held in September in Mumbai.

A joint venture between international maritime publishers TradeWinds and Seatrade, the summit, the first of its kind in India, has won the backing of the Indian Government and various regulatory authorities in the country.

“With up to 95% of India’s trade moving by sea, the maritime industry is a crucial player in the country’s economic development,” said Chris Hayman, Managing Director, Seatrade.

“The summit is a timely initiative which will examine the future potential of Indian shipping which stands poised for great success. The summit will assist in opening up dialogue between the Indian industry and the international community.”

To be held at the Taj Mahal, Mumbai, from September 21-22, the Indian Shipping Summit will engage the full spectrum of the Indian maritime sector.

“Its reach will include policy makers, ship owners and builders, maritime entrepreneurs and innovators,” explained Trond Lillestolen, TradeWinds’ Publisher.

“Equally important will be the role of the Indian Maritime Cluster – the large and growing number of Indian nationals engaged in all aspects of ship owning, management and operations worldwide.

“The momentum is building and India is now often compared to China, in terms of appetite for growth and opportunities, particularly the maritime sector. Indian ship-owners are trading profitably and investing in new-buildings and Indian ship-owners are receiving orders. However, much still needs to be done to improve the port and maritime infrastructure bringing massive opportunities for foreign and local investment.”

The summit is expected to attract key delegations from the Middle East, which is now seen as a gateway for India’s increasing trade with Europe and the USA.

“The links between India and the Gulf, in particular, are historic and are thriving at this particular time,” said Hayman.

“This is most evidenced by the recent decision by Dubai Ports International to invest US $930 million in a container terminal in the Indian port of Kochi.”

High on the summit’s agenda will be current issues surrounding India as a source nation for the shipping industry’s growing manning requirements.

“These will be examined in detail by shining a critical light on Indian officers and the investments being made in new training facilities,” explained Hayman.

News of the summit has already won the support of some of the biggest names in India’s shipping industry.

“This is a timely event,” said Sanjay Mehta, CEO of Essar Shipping, the shipping arm of India’s leading business conglomerate. “India as a leading user of sea transportation services and the emergence of India as a leading shipping industry destination makes this a summit not to be missed.”

Atul Agarwal, Director of Mercator Lines, India’s third largest private sector shipping company said the country’s maritime community was eagerly anticipating the summit.

“This event will launch a new era of relationships between the Indian shipping industry and the rest of the world,” he said.