Financial Daily from THE HINDU group of publications
Tuesday, March 1, 2005
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Financial Daily from THE HINDU group of publications Tuesday, March 1, 2005 |
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News Update as at 17.00 hrs (IST)
Logistics MUMBAI: For the first time in the country's maritime history, Indian shipping tonnage has surpassed eight million Gross Registered Tonnage (GRT) mark, following vessel acquisition spree by domestic shipping companies. "The country has crossed eight million GRT. The Indian shipping GRT was 6.94 million in April 2004," the Deputy Director General of Shipping, Naresh Salecha, said here today. Mr Salecha said subsequent to introduction of tonnage tax regime by the Government in 2004 budget, Indian tonnage has shown an increasing trend every month. Currently, Indian as well as foreign shipping companies are planning to bring more tonnage under the Indian flag, he said. "With increase in tonnage, many ancillary services connected with shipping like shipbuilding, ship repair, training, employment, insurance, legal services, logistics, business process outsourcing will also benefit," he added. - PTI
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