Shipping in India The importance of shipping in the transport sector of Indian economy can be gauged from the fac~ that from approximately 95 per cent of the country's"tJade volume, about 68 per cent in terms of value is moved by sea. India has the largest merchant shipping fleet among developing countries and ranks 19th in the world in shipping tonnage.
The salient features of India's shipping policy are the promotion of national shipping to increase self-reliance in the carriage of the country's overseas trade and protection of stakeholders' interest in EXIM trade. India's national flagships provide an essential means of transport for crude oil and petroleum product imports. National shipping makes significant contribution to the foreign exchange earnings of the country.
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