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 hubsat 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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