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Discuss the potential of India’s maritime sector in driving economic growth. What are the challenges in modernizing India’s ports and shipbuilding industry?

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Category: Economy (GS -III),

Test Date: 23 Jan 2025

Approach

  • Introduction: Brief about significance of India’s maritime sector
  • Opportunities:
    • Port Expansion: Development of mega ports like Vadhavan and Galathea Bay can increase India’s trade capacity.
    • Green Hydrogen hubs at key ports offer a sustainable future for the shipping sector.
    • Ship Recycling: India’s compliance with the Hong Kong Convention strengthens its position in the global ship recycling market.
  • Challenges:
    • Lack of skilled workforce in shipbuilding and repairs limits industry growth.
    • Shifting to eco-friendly fuels requires addressing technical and financial barriers.
    • Large-scale investment of USD 1 trillion by 2047 is needed to modernize the sector.
  • Conclude accordingly

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