India must own its trade, add 100 ships to merchant fleet: Shipping Minister Sarbananda Sonowal

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India's Shipping Minister Sarbananda Sonowal highlighted the country's annual payment of ₹75 billion to foreign shipping lines and proposed a five-year plan to reduce dependence on foreign ships for critical cargo. Operating ships under the Indian flag is currently 16% to 20% more expensive.

India pays ₹75 billion per year to foreign shipping lines, says NSB, proposing a five-year roadmap to reduce dependence on foreign ships for critical cargo; however, it is 16% to 20% costlier to operate ships under an Indian flag